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Rs 1,200 cr for Telengana textile industry

Jun 19, 2017
Rs 1,200 cr for Telengana textile industry

A budget of Rs 1,200 crore has been allocated by the Government of Telangana for the textile sector for the year 2017-18. Around Rs 373 crore will be used for the handloom sector, while Rs 827 crore has been allocated for powerlooms and its modernisation. The State has generated about Rs 73,000 crore in investments and created 2.56 lakh jobs.

The investments were made in the State after the introduction of the Telangana State Industrial Project Approval and Self-Certification System (TS-IPASS), said KT Rama Rao, State Information Technology and Industries Minister.

Some industrial parks, which include the Kakatiya Integrated Mega Textiles park and Sircilla Apparel park, will also be established in Telangana. Telangana has achieved a YoY growth of 10.1 per cent in gross state domestic product (GSDP) as compared to the national average of 7.1 per cent in FY17.