The textiles sector in Andhra Pradesh has received a significant boost with the signing of seven Memoranda of Understanding (MoUs) worth Rs. 4,380.38 crore (US $ 494 million) at the CII Partnership Summit. The agreements, finalised in the presence of Minister for Handlooms and Textiles S. Savitha, are expected to create 6,100 direct jobs across several districts.
The investment commitments span technical textiles, recycling, garments, silk and apparel manufacturing, with new units planned for Visakhapatnam, Chittoor, Guntur, Sri Sathya Sai and Anakapalli districts.
Kamadhenu Stika will invest Rs. 90 crore (US $ 10.16 million) in a new unit in Machilipatnam, which is projected to generate 650 jobs. Genius Filters will set up a Rs. 120 crore (US $ 13.54 million) facility at Gandrajupalle in Chittoor district, offering employment to 250 people.
Aravind Apparel Park will invest Rs. 20 crore (US $ 2.25 million) in Hindupur, providing 2,000 jobs, while Vamini Overseas Pvt. Ltd. will invest Rs. 35 crore (US $ 3.95 million) in Guntur, also promising 2,000 jobs. MVR Textiles will spend Rs. 105.38 crore (US $ 11.89 million) on its Visakhapatnam unit, creating 900 jobs, and BCUBE Textiles will invest Rs. 10 crore (US $ 1.12 million) in Anakapalli to employ 100 workers.
A major highlight of the summit was a Rs. 4,000-crore (US $ 451 million) investment pledge from Finland-based Infinited Fiber Company, which signed an MoU in the presence of Chief Minister N. Chandrababu Naidu and Minister Savitha. The company plans to establish a unit in Visakhapatnam, marking the introduction of its textile recycling technology in India for the first time.
Minister Savitha said the new textile policy introduced by the coalition government had attracted strong investor interest, and she assured that the proposed units would be established within six months.
