The government of the north Indian state of Uttar Pradesh is drafting a new textiles industry policy for the state. For the purpose, the government is considering inclusion of transport subsidy to textile exporters as well as an interest subsidy on working capital to textile entrepreneurs, according to a Business Standard report. As a part of the new textiles policy, the transport subsidy would be available for transporting textiles from factory to the ports, with an aim to boost exports, the report said. In addition, the government would provide 7 percent interest subsidy on working capital to textile entrepreneurs, and also increase the ceiling on such subsidy from the current Rs. 5 million to Rs. 10 million.
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