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The state government would also leverage the Varanasi-Haldia inland waterway to catalyse exports. It is planning to harness the comparatively cheaper cargo movement from Varanasi via the waterway to a seaport in West Bengal to boost shipments of farm and dairy products, apart from items manufactured by micro, small and medium enterprises.
India’s Uttar Pradesh state will develop a network of dry ports and freight container stations to boost exports. The plan is to cultivate a modern logistics ecosystem with private players. It will support the private sector to develop storage facilities, cold chains, multi-modal parks, container depots, and container freight stations in the state.
Under the UP Warehousing and Logistics Policy 2022, the state will accelerate land allotments for logistics parks and offer a variety of subsidies and incentives to attract private investment.
The state aims to turn a trillion-dollar economy by 2027 and hike merchandise exports from ₹1.56 trillion to nearly ₹3 trillion in three years, a top Indian business daily reported.
The state is also exploring developing other intra-state inland waterway systems to support passenger and cargo movement.
The projects will be offered front- and back-end subsidies, including exemption in stamp duty, concession in land use change levy and development fee exemption.
The new policy will be effective for five years and replace the one promulgated in 2018. The incentives promised to private sector projects under the previous policy will, however, remain in force.
Fibre2Fashion News Desk (DS)
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