The new mega textile park policy of the state government is flourishing, and attracting industries and entrepreneurs in Uttarakhand. Six companies including one from China are planning to invest in the industrial estates of Sitarganj and Jaspur, which will also generate employment for around 10,000 people.
Under this policy, each company will invest at least Rs. 75 crore in textile park. According to officials, the four companies coming to Sitarganj will invest more than Rs. 500 crore.
The Chinese Yarn Pvt Ltd from China, which has already signed an MoU with State Industrial Development Corporation of Uttarakhand Ltd. (SIDCUL), is investing Rs 600 crore in its plant.
SIDCUL’s Regional Manager Gaurav Chatwal told that these companies will start manufacturing in next one year and will develop the infrastructure in the meantime.
Kashpiur based indigenous company, Sivanta Spuntex Pvt. Ltd , has signed a contract with SIDCUL to invest in Jaspur.
According to the policy, the companies will have to invest more than Rs 75 crore in the mega textile park and will be exempted from most of the provincial taxes.
Source: Times of India
