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More textile firms line up to invest in Telangana

Jul 14, 2021
More textile firms line up to invest in Telangana

Hyderabad

Many textile companies are reportedly holding serious talks with the government of Telangana on investments to set up their manufacturing units in various parks across the state. The Korean textile giant Youngone Corporation has decided to set up manufacturing units and starts operations at the Kakatiya Mega Textile Park (KMTP) in the next six months. Another big giant, Kitex Group has announced to invest Rs 10 billion for establishing manufacturing units at KMTP.

According to an official from the Handlooms and Textile Department, 12 to 13 investors are interested to invest in the state. The talks with some of the companies are in the final stages while some are in the initial and mid-level stages.

It is seen that the state garment has given priority to the textile and apparel sector. It was also pointed out that in the last few years; there has been an inflow of investments from different companies to set up their units in textile parks across Telangana. The Department of Handlooms and Textiles has also signed an MOU with Gokaldas Images Private Limited for setting up a 500 machine garment factory in Sircilla. The Welspun Group has also invested in an advanced textiles project. Ganesha Ecosphere has also commenced construction works at KMTP. Divya Textiles has commenced 3 additional units in 2020. Five more units are under construction.

Source – Telangana Today

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