UP’s investor-friendly policies attracting industrialists
The investor-friendly policies of Yogi Adityanath’s government are attracting large numbers of industrialists from various sectors to invest in the state and the textile sector is no exception.
According to the Textile Department, major players in India’s textile industry have invested Rs 8,715.16 crore over the past four years to establish 66 factories in the state. Of these textile factories, 12 have already been installed while the construction of 18 others is underway and will provide employment to 5 25,087 people. Up to 18 factories are expected to start production this year. In addition, the construction of 17 more textile factories is also expected to start this year. These factories will start production next year.
Officials further pointed out that a total sum of Rs 645 crore has been spent on setting up the 12 textile factories which have become operational. Up to 2,870 people have also obtained employment in the 12 units. “UP was synonymous with fear, lasting insecurity and risks for these manufacturers four years ago. They were afraid to invest because of rampant crime and bureaucracy. However, things changed quickly after Yogi Adityanath took over as CM in 2017. He managed to change this common perception of UP through his massive crackdown on organized crime. In a changed environment, investors in India and abroad regard UP as one of the safest places to invest and invest like never before in different sectors including textiles, infrastructure, food processing, electronics manufacturing, real estate, and energy and manufacturing sectors. The textile sector has become the preferred sector for investors, ”officials said.
Meanwhile, with the establishment of these factories, Kanpur quickly established itself as a major textile hub. Kanpur Plastipack Limited invested Rs 200 crore in Kanpur (rural) while RP Poly Packs invested Rs 150 crore in Rania for the production of polybags. GLKK Industries invested Rs 25 crore in Ruma Kanpur for the production of fabrics while Srishti Industries set up a knitting factory in Kanpur (rural). In addition, Gadgets Apparel and Anilikha Fabric respectively established garment and hosiery factories in Kanpur.
Likewise, Rajlakshmi Cotton Mills has set up a garment factory in Noida at a cost of Rs 50 crore apart from one in Kanpur while Kalyani Innerwear has established an underwear factory in Ghaziabad. TT Limited set up a garment factory in Amroha at a cost of Rs 50 crore while Sunwin Textile set up a lace fabric factory in Badaun.
There are 28 other investment proposals related to the establishment of textile factories, which investors have not yet requested for land. Department officials are in contact with these investors and the land transaction is likely to be finalized.