New initiative of UP government: proposal of two policies for MSME and footwear-leather sector
The Uttar Pradesh government has proposed two major policies to encourage industrial development and investment in the state. On the one hand, while the “MSME Industrial Asthan Management Management Policy” has been noticed on better maintenance and operation of industrial areas, on the other hand, under “Footwear, Leather and Non Leather Area Development Policy 2025”, this sector is set to make this sector competitive globally.
MSME Industrial Asthan Management Policy: Now transparent lease system
Under this new policy, allotment of vacant land, sheds and plots in industrial areas of the state will be done through lease or rent-based e-auction. The duration of the lease and the process of auction will be determined by the Director, Department of Industries.
Region wise reserve price has also been fixed in the policy:
Madhyanchal: ₹ 2,500 per sqm
Paschimanchal: ₹ 3,000 per sqm (20% more)
Purvanchal and Bundelkhand: ₹ 2,000 per sqm (20% less)
These rates will be increased by 5% on 1 April every year. To participate in the e-auction, you have to deposit 10% reserved price Ernest money.
Footwear, Leather and Non Leather Policy 2025: Export and employment will boost boost
Footwear, leather and non -leather development policy 2025 proposed by the state government aims to promote exports, attract new investment projects, and encourage expansion of local industries.
Major points of policy:
- Increase in exports keeping global markets in mind
- Technical upgradation and modernization
- Preparing a skilled workforce through training programs
- Creation of new employment opportunities
- Creating a professional environment favorable for domestic and foreign investors
Both these policies have the ability to give a new direction to the state’s industrial infrastructure and employment manufacturing. This will not only strengthen the MSME sector but can also make the dream of making UP a hub of leather and footwear industry.
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