UP Textile Industry Address Capital & Logistics Gaps at Invest UP Meet
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At a recent high-level stakeholder consultation organized by Invest UP, key players in the textile and apparel sector, including sourcing companies, global firms, and manufacturers, came together for constructive dialogue with the state government. While officials reiterated Uttar Pradesh's strong commitment to fostering an investor-friendly ecosystem, industry representatives used the platform to highlight several critical operational shortcomings that they argue must be addressed to unlock the sector's full potential. This engagement underscores the state's collaborative approach, which aims to align the government's vision with the practical needs of the manufacturing base.

Industry concerns centered on persistent financial and logistical constraints. Manufacturers specifically demanded easier access to capital and stronger expansion incentives, emphasizing the critical need for customized financial support, especially for micro, small, and medium enterprises (MSMEs). In addition to financing, operational issues were also raised, including labor shortages, reliable power supply, tariff structures, and widespread logistical constraints. Industry experts emphasized the need to align product pricing with stringent quality standards to accelerate cluster development and enhance global competitiveness.

In response to the concerns raised, Invest UP officials presented a detailed overview of the state's efforts to mitigate these challenges and upcoming opportunities. They showcased Uttar Pradesh's rapidly developing textile ecosystem, highlighting its superior infrastructure, a large industrial land bank, and emerging manufacturing clusters. Specific investment opportunities, including upcoming PM MITRA Parks, private integrated parks, and Integrated Manufacturing and Logistics Clusters (IMLCs), were detailed. These projects are supported by comprehensive policy frameworks, such as the Investment Promotion Policy 2023, which provides substantial incentives such as capital subsidies, SGST reimbursement, stamp duty exemptions, and electricity duty waivers.

Concluding the consultation, state officials reaffirmed their commitment to acting as a supportive bridge for investors. Chief Minister's Secretary Amit Singh emphasized that Uttar Pradesh is strategically positioning itself as a global textile competitor and challenged participating companies to transform their operations from "suppliers to global manufacturers." With participation from over 45 leading companies, Invest UP CEO Vijay Kiran Anand welcomed the industry's candid suggestions and expressed commitment to continued engagement. He invited stakeholders to Lucknow for deeper collaboration aimed at collectively strengthening the state's textile and apparel ecosystem.

10:40 AM, Nov 17

Source : UP Textile Industry Address Capital & Logistics Gaps at Invest UP Meet

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