With intentions to invest US $ 230 million (Rs. 2,000 crore) in the textile sector, five businesses have expressed interest in building industries in Andhra Pradesh, according to Minister of Handlooms and Textiles S. Savitha. She said that agreements (MoUs) with these businesses would be inked shortly and that 15,000 jobs would be created by the investments.
During the second day of the International Bharat Tex 2025 Exhibition in New Delhi, the Minister spoke with a number of both domestic and foreign investors. She described the prospects in the state’s textile industry and emphasised the steps the Chief Minister, N. Chandrababu Naidu, had done to encourage industrial development.
The Advanced Textiles Association, ITMF, Moscow Chambers of Commerce, and two other companies expressed their intent to invest in Andhra Pradesh as a result of fruitful meetings with company officials, she said. Karnataka officials also expressed interest in investing in Emmiganoor Textile Park, and Andhra Pradesh’s Guntur Textile Park consented to establish a textile warehouse in Russia.
In an effort to draw in more funding, she revealed plans to host a textile investment summit in Andhra Pradesh. She reaffirmed that Chief Minister Chandrababu Naidu is making the growth of the textile sector a top priority by creating an environment that is conducive to investment with incentives and infrastructure assistance. She also mentioned that Andhra Pradesh is already home to a number of significant corporations.
