Context:
The Uttar Pradesh government is preparing to approve the UP Leather and Footwear Policy-2025, with the final draft of the new policy ready and set to be presented before the Cabinet.
More on News:
- The new policy aims to boost the growth of leather and footwear clusters while encouraging the establishment of private industrial parks throughout the state.
- Developers investing in these parks will receive attractive incentives, such as capital subsidies and full exemption from stamp duty.
- The policy is aimed at expanding production, driving exports, strengthening the global brand presence of the leather and footwear sector, and boosting the state’s revenue.
- Kanpur is already recognized as a major hub for leather and footwear exports both in India and globally, and will be key to this strategic initiative.
- The policy outlines that parks developed on 25 to 100 acres will qualify for capital subsidies of up to ₹45 crore, while parks exceeding 100 acres can receive up to ₹80 crore.
- According to the policy draft, all parks must be completed within five years, with at least 25 percent of the land dedicated to green and open spaces.
- Investors will need to invest a minimum of ₹150–200 crore, depending on the type of unit (plant, cluster, or park), which could create 1,000 to 3,000 new jobs per unit.
- The state anticipates that for every ₹1 crore invested, 20 employment opportunities will be generated.
- “Emerging centers such as Lucknow and Bareilly are also poised for rapid growth under the new policy,”
