Kerala-based world’s second largest infant wear manufacturer Kitex Garments has finalised Rs. 1,000 crore investment in Telangana. It will create around 4,000 jobs.
The company, which scrapped Rs. 3,500 crore project in Kerala due to harassment by officials, announced the Phase-1 investment in setting up apparel units in the Kakatiya Mega Textile Park (KMTP) at Warangal over the next two years.
The proposed investment by the company will get mega project status under TS-iPASS (The “Telangana State Industrial Project Approval and Self- Certification System (TS-iPASS) Act, 2014) and, accordingly, tailor-made incentives would also be offered by the state.
In principle, the Kitex Group has agreed upon a Phase-I investment of Rs. 1,000 crore within a span of two years. Sabu M Jacob, CMD, Kitex has also assured of more investments in Telangana in the future.
Kitex Group’s five-member team held one-to-one meetings with Telangana’s industries minister KT Rama Rao (KTR) as well as top industries department officials included principal secretary Jayesh Ranjan.
This included a marathon three-hour meeting with KTR where he apprised them of the State Government’s policies, including the TSiPASS single window clearance system, and pitched Telangana’s quality cotton.
After the meeting, Jacob said, “We had an excellent interaction with IT and Industries Minister K T Rama Rao. My experience with him and other officials was totally different from the discussions I have had with several other State Governments (on investment opportunities).”
He further added that he will be visiting Telangana again after few days. “There are several aspects to be discussed and decisions taken including selection of land for setting up the proposed unit in Telangana,” he added.
“We are delighted to announce the entry of KITEX Group, world’s 2nd largest manufacturer of kid’s apparels into Telangana, with an initial investment of Rs. 1,000 crore. They’ve chosen KMTP, Warangal for their factories. My gratitude to Sabu M. Jacob, MD of Kitex Group on a quick decision,” KTR tweeted.
Rama Rao, who explained the investor-friendly policies of the State, specifically briefed about the TS-iPASS single window approval system, quality power supply, extensive cotton cultivation in the State amongst other aspects.
The Kitex team was later flown to Warangal in a helicopter. EV Narasimha Reddy, Vice-Chairman & MD, Telangana State Industrial Infrastructure Corporation (TSIIC) personally accompanied them and gave them a guided tour of the 1,200-acre KMTP.
The special treatment also included an elaborate lunch and dinner that was hosted by KTR and the industries department team at a five-star hotel opposite Telangana Chief Minister K. Chandrasekhar Rao’s camp office.