UP Leather Industry Growth: Private industrial parks will get a big relief from Uttar Pradesh government’s footwear-leather policy 2025. Investment will increase, thousands of employment opportunities will be created and UP will gain a new identity as a global leather-footwear hub.
Uttar pradesh footwear policy 2025: The Yogi government of Uttar Pradesh has taken another big step towards making the state a new hub of investment and employment. The government has announced a special incentive to private industrial parks by implementing footwear, leather and non-leather sector development policy 2025.
Under this policy, not only will there be financial assistance but also a discount on tax and stamp duty. The question arises that who will finally benefit from this scheme of the government and how can it change the future of the state?
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Why is this new policy important?
Uttar Pradesh has been the center of UP Leather Industry and footwear production for a long time. But the need for large investment and modern infrastructure was felt for competition globally. The government believes that the establishment of private industrial parks will not only increase investment but will also create employment opportunities for thousands of youth.
How much will financial incentives get?
- Assistance of 25% of eligible capital investment to industrial parks ranging from 25 to 100 acres or up to maximum ₹ 45 crore.
- Financial assistance up to maximum of ₹ 80 crore to 100 acres of parks.
- All park developers exempted 100% stamp duty.
This amount can only be spent on infrastructure, such as roads, electricity, water supply, banking facilities, sewerage, warehouse, hotel, hospital, skill development center etc.
What are the conditions for industrial parks?
- The minimum land of the park should be 25 acres.
- At least 5 industrial units mandatory in every park.
- No unit will be able to use more than 80% of the total area.
- 25% of the land has to be preserved for greenery and general infrastructure.
- 25–100 acres of parks should be completed in 5 years and 100+ acres of parks in 6 years.
Which expenses will not get benefits?
No financial assistance will be provided on things like land procurement, fuel, vehicle, furniture and old machinery. The government believes that this policy can make Uttar Pradesh a new stronghold of Global Hub for Leather and footwear industry. With this, you will be able to benefit from MSME to big investors. Along with this, there will be a big change in the direction of Employment Generation Up
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