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UP cabinet gives clearance to 25% subsidy, full stamp duty waiver for defence industry

Press Trust of India  |  Lucknow 

Ahead of the defence expo next year, the Uttar Pradesh government on Tuesday decided to provide 25 per cent subsidy and 100 per cent stamp duty waiver for setting up defence industry in the state.

The decision was taken at a cabinet meeting chaired by Chief Minister Yogi Adityanath.

"The cabinet has amended the UP Defence, Aerospace Unit and Employment Promotion Policy-2018 with provision of providing 25 per cent subsidy and 100 per cent stamp duty waiver for setting up defence industry in the state," Industrial Development Minister Satish Mahana told reporters in the state capital.

Now, the companies that will set up defence industries will be provided all facilities including power, road and fencing of land, the minister added.

The biennial DefExpo India will be held for the first time in Lucknow in February next year.

The previous edition was held in Tamil Nadu in 2018.

The defence expo offers opportunities for the Indian defence industry to showcase its capabilities and promote its export potential.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 03 2019. 15:20 IST
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