Industry And Cluster | News & Insights

UP Government urges Vietnam to invest in state’s textile industry.

Published: March 2, 2021
Author: Manali bhanushali

The Uttar Pradesh (UP) Government has invited Vietnamese players to invest in the textile sector and enjoy the support being offered by the State Government.

Easing tax compliance for setting up MSME units in the state, schemes like One District One Product (ODOP) are some of the various lucrative facilities for the organisations that wish to invest in the state.

Addressing a virtual event India-Vietnam Trade and Investment Connect, Navneet Sehgal, Additional Chief Secretary, MSME of the state said that UP has liberalised the policies and brought many changes in the ecosystem with various potential growth areas for tie-ups.

The event was jointly organised by the Indian Industries Association (IIA) and Embassy of Vietnam in India.

“We can collaborate and take advantage of each other’s strengths, as Vietnam is good in electronics and UP is good in textile. We have 60 products under One District One Product (ODOP) which we are exporting in large numbers to other countries. This type of meets can be a good platform provided by the embassy where industry to industry kind of interaction can be done.”

“Whatever we can do for support and collaboration we will definitely do so. If Vietnam is interested then we can establish an ecosystem, subsidy on capital and GST reforms, labour, technology, hand holding process, land availability, airports, proper connectivity, power availability,” he added.

This virtual meet made entrepreneurs aware of the opportunities and scope of investment for expanding their business in Vietnam which will help them to make their presence in the global market.

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