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Uttarakhand to open textile parks

Uttarakhand is ready to set up a series of textile parks. A host of incentives will be available to attract new investments. Three textile parks will be set up. Land will be available under the prevailing price. The company setting up a new unit will be given a 50 per cent rebate on the land price. The allottee has to pay 20 per cent of the land premium at the time of allotment and the balance payment is to be deposited within seven years in equal installment on the prevailing rate of interest. The scheme will remain in force till March 31, 2021.

A state capital subsidy will be offered. For medium and small enterprises, the capital subsidy will be 15 per cent to a maximum limit of Rs 50 lakhs and for heavy industry it’s 15 per cent to a maximum limit of Rs 30 lakhs.

An interest subsidy of seven per cent will also be offered. Cent per cent VAT concession will be given on purchase of raw materials and on sale of finished goods for seven years from the start of the production. A rebate of Rs 1 per unit is also available on power bills. There will be 100 per cent stamp duty rebate on the purchase of land.