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27-December-2017

UP State Government has approved the ‘UP Handloom Garment Policy 2017’ ahead of the two-day Investor Summit 2018 scheduled to be held on February 21 and 22. To promote the textile industry in the state the decision was taken at the Cabinet meeting, presided over by Chief Minister Yogi Adityanath, on December 26, 2017.

However, the Handloom Garment Policy has come as a relief the industry as a whole whereas UP witnessed the closure of various carpet manufacturing units on a large scale post-GST. The carpet industry in India is currently pegged at around Rs. 3,000-4,000 crores of which more than two-thirds come from the Bhadohi-Mirzapur-Varanasi-Gopiganj-Khamaria belt.

"The sectors that will get benefit from the policy are handloom, textile, bulletproof jackets and parachute manufacturers among others," UP Government Spokesperson and Health Minister Sidhharthnath Singh said. The new approved policy will also benefit the Silk and Weaving Industry.

CM Yogi assures that all the stakeholders will have complete support in facilitating and grounding investments in Uttar Pradesh. He said, "On this note, I welcome you to Uttar Pradesh Investors Summit 2018."

The two-day Investor Summit aims to showcase the investment opportunities and potential in the various sectors of Uttar Pradesh. It will offer a global platform, which will bring together heads of states and Governments, ministers, leaders from the corporate world, heads of international institutions and academia from around the world to further the cause of economic development in the state and promote cooperation. The center further intends to provide a platform for the intellectuals and expertise around the world to collaborate with the state through the Summit.

- Apparel and Textile News, Apparel Talk, Indian Apparel

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