UP’s Mega Textile Park Near Lucknow Receives Investment Proposals Worth Rs 10,000 Crore

ENA State 2024-10-16 18:02:03 Lucknow, Oct 16 (KNN) In a significant development for Uttar Pradesh's textile industry, the proposed mega textile park has attracted investment proposals totalling Rs 10,000 crore from leading domestic textile and garment companies. The park, spanning 1,162 acres across the Lucknow-Hardoi districts, has garnered interest from industry giants such as Reliance Industries, Arvind Mills, Vardhman, and Ahuja Textile Mills, among others. The ambitious project is expected to house approximately 400 textile manufacturing and processing plants of various scales. Uttar Pradesh Chief Minister Yogi Adityanath recently announced that the textile hub is projected to draw a total investment of Rs 15,000 crore and generate 300,000 direct and indirect employment opportunities. A state government official revealed that several marquee textile companies have shown keen interest in establishing facilities within the park, with about a dozen firms already requesting details about land allocation. The timing of this development is particularly advantageous, as the textile park aims to capitalise on the recent disruption in Bangladesh's textile sector, which reportedly led to the closure of 800-1,000 small and medium textile units due to political unrest. The establishment of the UP Textile Park aligns with India's ambitious target of achieving USD 100 billion in garment exports over the next five years. UP MSME, Khadi and Textile Minister Rakesh Sachan emphasised that the park will play a crucial role in solidifying India's position as a global leader in textiles, garments, and apparels. He added that policies would be formulated to promote various segments of the textile industry to meet the export target. Beyond manufacturing and processing units, the textile park is designed to encompass the entire textile value chain. It will offer comprehensive services including training, marketing, designing, packaging, manpower, consultancy, and export facilitation. This holistic approach builds upon Uttar Pradesh's rich textile heritage, which includes established hubs in Varanasi, Lucknow, Bhadohi, and Gorakhpur. Recognising the textile sector's significant potential for employment generation, the state government is actively promoting its growth. In a move to enhance skill development, the government has partnered with Raymond for training youth in garmenting and tailoring. During a recent visit to Lucknow, Raymond Chairman and Managing Director Gautam Singhania underscored Uttar Pradesh's importance as a key textile market. As the project progresses, it is poised to make a substantial contribution to both the state and national economies, while also strengthening India's position in the global textile industry. (KNN Bureau) 39619 https://knnindia.co.in/news/newsdetails/state/ups-mega-textile-park-near-lucknow-receives-investment-proposals-worth-rs-10000-crore 2024-10-16 18:02:03 knnindia.co.in UP’s Mega Textile Park Near Lucknow Receives Investment Proposals Worth Rs 10,000 Crore