Uttar Pradesh Textile park nets investment proposals worth Rs 10,000 cr | News
The proposed mega textile park in Uttar Pradesh has netted investment proposals to the tune of ~10,000 crore from domestic textile and garment majors.
Companies looking to set up units in the UP Textile Park spanning 1,162 acres include Reliance Industries, Arvind Mills, Vardhman and Ahuja Textile Mills, among others.
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In all, about 400 big and small textile manufacturing and processing plants may come up in the textile park in Lucknow-Hardoi districts.
Recently, UP Chief Minister Yogi Adityanath said the textile hub was estimated to attract a total investment of ~15,000 crore.
It would create 300,000 direct and indirect employment opportunities.
“Marquee textile companies have evinced interest in setting up plants in the UP Textile Park. About a dozen companies have sought details about land allocation,” a state government official said.
Moreover, the textile park plans to capitalise upon the disruption in the textiles sector of Bangladesh, following a political upheaval. This reportedly led to the closure of 800-1,000 small and medium textile units in that country.
With India targeting garment exports of $100 billion in the next five years, the UP Textile Park will bolster domestic production to achieve the goal.
“The textile park will firmly establish India as a global textile, garment and apparels major. To achieve the export target, we will formulate policies to promote apparel, garments, fibre, textiles and threads, among others,” said UP MSME, khadi and textile minister Rakesh Sachan.
The textile park will not only comprise manufacturing and processing units, but encompass an entire textiles value chain.
The facility will provide training, marketing, designing, packaging, manpower, consultancy and export services.
Traditionally, UP boasts of major textile hubs of Varanasi, Lucknow, Bhadohi and Gorakhpur.
Since, the textiles sector is among the largest employment generators, the government is propelling it.
The state also tied up with Raymond for skills training of youth in garmenting and tailoring.
On his recent visit to Lucknow, Raymond chairman and managing director Gautam Singhania termed UP as an important textile market.
First Published: Oct 15 2024 | 3:40 PM IST
