Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Chinese conglomerate keen on investing in Uttarakhand textile park

A Chinese conglomerate has shown interest in investing Rs 600 crores in the textile park at Sitarganj, in Uttarakhand. This is likely to help the state’s textile industry take a major steps towards growth. Experts say surplus ground water in Sitarganj and proximity of Udham Singh Nagar to neighbouring countries like Nepal and China have attracted industrialists to the textile park. Another advantage is its border with Uttar Pradesh and good transportation facility to other parts of the country.

As per the State Industrial Development Corporation of Uttarakhand (SIDCUL), it will be the first Chinese company to make 100 per cent foreign direct investment (FDI) in India. Uttarakhand, is anticipating more Chinese firms to invest in the state in the future. This venture will also provide employment to around 8,000 people and with the inflow of textile industries, it will generate more options of livelihood.

Uttarakhand is a suitable business destination for industrialists due to benefits like rebate in per unit electricity bill, exemption from electricity tax, 50 per cent rebate in land for setting up textile industry.

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo