UP state govt’s draft textile policy welcomed by FICCI and UP unit

At a meeting called by the Chief Minister Yogi Adityanath, to discuss the draft textile policy for the State. Chairman L K Jhunjhunwala and Co -Chairman S K Khandelia who attended the meeting on Tuesday welcomed the draft Textiles Policy of UP, claiming in a statement that this policy will uplift the sector in the State.

Prior to the release of the draft policy, FICCI had submitted detailed suggestions to the UP Government for formulation of a vibrant and competitive Textiles Policy.

Mr Khandelia commenting on the draft Policy said that it is heartening to see that many of the suggestions submitted by FICCI like Open access for existing as well as new units, capital subsidy for new and existing units over and above TUFS, interest subsidy over and above Central Government’s subsidy for technology upgradation have been included in the draft Policy.

There were other suggestions also made by FICCI like higher subsidy on electricity tariff: 1.5 per unit power subsidy in tier 1 cities/ areas, 2 per unit power subsidy in tier 2 cities / areas and 2.5 per unit power subsidy in tier 3 cities/areas. Subsidy of Rs 20 crore for each cluster/park in addition to the Central Government’s subsidy of Rs 40 crore under Scheme for Integrated Textiles Park (SITP). Capital Subsidy by State Government for Technical Textiles sector (It needs to be clarified). The State Government to provide 50% of the CETP project cost or Rs 20 crores whichever is less for setting up a CETP in new or existing textile parks/ clusters which the State Government may like to consider in their textile policy.

According to Jhunjhunwala, UP has abundant labour force that currently is largely employed in the industry outside the State. This policy has the potential to provide jobs to millions of natives as it is a labor intensive sector.

Recent Posts

Indorama Ventures partners for commercial-scale bio-PET bottles

Indorama Ventures has teamed up with Suntory, Iwatani, and others to introduce the first commercial-scale bio-PET bottle, made from certified…

15 hours ago

Milliken & Company launches innovative moisture barrier

Milliken & Company has introduced Milliken Assure, first flame-resistant moisture barrier for firefighter turnout gear that is free from PFAS…

15 hours ago

Paradise Textiles, Kintra Fibers launch bio-synthetic material garment

Paradise Textiles has collaborated with Kintra Fibers, a leader in bio-based fibers, to produce the first garment made from Kintra’s…

15 hours ago

Swisstulle advances dyeing efficiency with JigMaster

Swisstulle adopted JigMaster for its dyeing and finishing operations, especially for high-quality technical textiles used in fashion and automotive industries.

6 days ago

Birla Cellulose and Circ partner to scale textile recycling

Birla Cellulose, a leader under the Aditya Birla Group, has announced a long-term partnership with Circ, a U.S.-based textile recycling…

6 days ago

CARBIOS unveils enzymatically recycled polyester t-shirt

CARBIOS has collaborated with leading brands Patagonia, PUMA, Salomon etc. to create a groundbreaking polyester garment made entirely from textile…

6 days ago