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Andhra Pradesh approves textile policy 2018-23

Aug 09, 2018
Andhra Pradesh approves textile policy 2018-23

Andhra Pradesh has recently held a cabinet meeting to approve several policies and took decisions on projects on employment generation and agrarian crisis. The State Mega Seed Park Policy 2018, the Textile, Apparel and Garments Policy 2018-23 and formation of a special account for management of agricultural products collection were approved.

A market stabilisation fund was approved and was decided to replace Visakhapatnam Urban Development Authority (VUDA) with Visakhapatnam Metropolitan Region Development Authority (VMRDA). The new park policy aims to make the State a seed capital by setting up of seed industries. The seed park will be set up at Tangadencha village in Kurnool district. The government expects to attract Rs 3,000 crore in investments and create 40,000 jobs by 2023 through this park.

The textile policy aims to attract Rs 15,000 crore investments and generate employment for 2.5 lakh. It was also decided to set up nine private polytechnic colleges affiliated to Sri Venkateswara Veterinary University, Tirupati, and 11 private polytechnic colleges in the fisheries sector.