Lucknow: UP Toy Manufacturing Promotion Policy-2025, offering special incentives for setting up manufacturing units in eastern UP, Bundelkhand and central UP, was okayed by the state cabinet on Tuesday.
Stating that UP has a strong base in the sector, state finance minister Suresh Khanna said: “The state accounts for nearly 50% of India’s exports of festival-related articles. For MSMEs, incentives will be available under the UP MSME Promotion Policy-2022, or the subsequent policy applicable after it ceases to be in force. The policy will remain valid for five years from notification or until a new policy is introduced, whichever is earlier.
The policy seeks to attract new investments while supporting existing units in expansion, diversification and technological upgradation. Varanasi, Jhansi and Chitrakoot are known for their GI-tagged lacquerware and handcrafted wooden toys. The policy will be implemented by the MSME department, with Invest UP handling incentives for large and higher-category projects. State incentives under another policy cannot be claimed for projects covered by this policy, though benefits available under central schemes can be availed additionally.