Finance & Economy | News & Insights

Uttar Pradesh textile sector attracts investment of Rs. 6,320 crore.

Published: February 4, 2021
Author: Manali bhanushali

The Uttar Pradesh Government has claimed that four companies have announced of having invested Rs. 6,320 crore in the state in last 3.5 years. Overall, the state has received investment of over Rs. 1,88,000 crore during this period.

Alok Tandon, Infrastructure and Industrial Development Commissioner, Uttar Pradesh said, “Due to these investments, Kanpur has emerged as a big textile hub. The proposal to make Gorakhpur a textile hub has also got the green signal.”

He further added that textile sector bore good results due to policy changes.

As per media reports, Noida Apparel Export Promotion Cluster will invest Rs. 5,000 crore in apparel park.

Kanpur Plastipack Limited (KPL) is investing Rs. 200 crore. The company is known as a leading manufacturer and exporter of flexible intermediate bulk container (FIBC)/bulk bag/jumbo bag, PP multifilament yarn, PP woven sacks and wide variety of fabrics like sulzer fabric, ventilated fabric, circular fabric, etc.

RP Poly Packs is also investing Rs. 150 crore in the state. The company is known for the manufacturing of HDPE tarpaulin sheets known as PP fabric and HDPE fabric used in packaging material, water proofing and temporary shelters.

Another major investment is announced by a yarn manufacturing company that is planning to invest Rs. 950 crore in Balrampur.

It is pertinent to mention here that the State Government has announced schemes like One District-One Product and few other schemes to attract investment in the state across various industries.

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