YEIDA allots 150 acres for Textile Park in NCR

The Yamuna Expressway Industrial Development Authority (YEIDA) has allotted 150 acres of land for the Apparel Export Cluster (Textile Park) to be built in the NCR on the outskirts of the national capital. A total number of 152 companies will set up their factories at the textile park at an estimated cost of ₹8,365.73 crore offering job generation avenues to over five lakh people. The construction of 91 textile and garment factories is expected to start in the first month of next year. On completion of the construction of 91 textile and garment factories, the park will not just enhance Noida's stature in the garment and textile sector within the country, but also contribute significantly towards making UP the textile hub of North India. UP is the third largest textile producing state of the country with a 13.24 per cent share in textile production at the national level and ranks fifth in the country in terms of handlooms and silk production. Meanwhile, impressed with the state CM's investor-friendly policies, 66 major industrialists of the country and abroad have submitted proposals to the Government to invest ₹8,715.16 crore in the textile and garment sector in the past four years. Out of these 66 proposals, 12 textile factories have already been set up in the state while construction of 18 others is in progress and there is a target to start production in the 18 textile factories this year itself.