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Lucknow (Uttar Pradesh) [India], March 22 (ANI): Uttar Pradesh Chief Minister Yogi Adityanath said two Memorandums of Understanding (MOUs) worth Rs 700 crore were signed on Saturday to establish the PM MITRA Park at the Lucknow-Hardoi border.
The two MoUs worth Rs 700 crore will follow the Prime Minister's 5F vision--Farm to Fibre, Fibre to Factory, Factory to Fashion, and Fashion to Foreign, said CM Yogi.
In his address at the Investors Meet for the PM MITRA Park on the Lucknow-Hardoi border, CM Yogi announced the development of two leather parks named after Sant Ravidas.
He highlighted incentives worth Rs 210 crore for investors under the 2017 textile policy and Rs 8 crore under the 2022 policy. CM Yogi emphasised the state's commitment to industrial expansion and employment generation.
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"Along with textile, two new leather parks, in the name of Sant Ravidas, will be developed in Uttar Pradesh. 80 of the investors under the 2017 policy of Uttar Pradesh Handloom, Powerloom, Silk, Textile, and Garmenting are receiving an incentive of Rs 210 crore today. Under the 2022 policy, we are giving 44 such investors an incentive of Rs 8 crore. Two MOUs worth Rs 700 crore are also being signed here today for PM MITRA Park. The Prime Minister has said we will connect PM MITRA Park with 5F - Farm to Fibre, Fibre to Factory, Factory to Fashion, and Fashion to Foreign, which means that we can also export its products," said CM Yogi.
Addressing the gathering at the event, CM Yogi emphasised the state's commitment to investor-friendly policies.
"It's not a new thing that Uttar Pradesh can be established as an excellent hub for textile... The ancient spiritual places of UP, Kashi and Ayodhya, were not only advanced in terms of culture, but they also contributed to bringing culture to a new level... In UP, there are big textile centres in various areas like Gorakhpur, Sant Kabir Nagar, Azamgarh, and Mubarakpur," said CM Yogi.
Adding further, he said, "When we implemented the One District One Product policy in the state, the demand exceeded the supply... That is why the government has decided that an integrated textile park will be built in Lucknow, and ten new parks will be built as an extension in the name of the state government."
"Incentives have been distributed to hundreds of investors who have already commenced production. Our online system ensures that all incentives are provided within the policy framework," he said.
He further noted that UP is the first state in India to implement systematic social incentives for investors. Under the 2022 textile policy, investors in the sector have already received their incentives, reinforcing the state's pledge to deliver on its promises.
CM Yogi also highlighted the historical significance of UP's textile industry, drawing attention to Varanasi and Ayodhya as centres of ancient trade and craftsmanship.
"Kashi and Ayodhya are among the world's oldest cities, and their legacy in textiles dates back thousands of years. Bhagoli and Mirzapur continue to be renowned for their silk, and the Banarasi saree remains a global favourite," he said.
He further mentioned that Ambedkar Nagar in Ayodhya is known for its flourishing handloom and textile industry.
The establishment of the Mega Textile Park is expected to generate employment and enhance UP's position as a leading textile manufacturing state in India.
The PM Mega Integrated Textile Region and Apparel (PM MITRA) scheme aims to establish an integrated, large-scale, and modern textile industrial infrastructure, creating a complete textile value chain from fibre to finished product and boosting India's global textile competitiveness. (ANI)
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
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