Lifestyle retailing giant Shoppers Stop is gearing to set up a manufacturing facility in Sircilla apparel park after signing a Memorandum of Understanding (MoU) with the Telangana government.
The announcement comes after the Korean textile giant Youngone Corporation revealed its intent to invest Rs. 900 crore in setting up 8 units, on 290 acres of land at the Kakatiya Mega Textile Park at Warangal.
Pleased over the announcement, KT Rama Rao, Minister for IT and Industries, said “Delighted that the apparel manufacturing unit of Shoppers Stop will be coming up at Sircilla. Employment opportunities to hundreds of women will be created and a huge step forward for apparel park, Sircilla.”
According to a press release, the MoU was signed by IT and industries principal secretary Jayesh Ranjan and Shoppers Stop Managing Director and CEO Rajiv Suri.
Sircilla is industries and IT minister KT Rama Rao’s constituency and post the signing, he met representatives of the Indian Pharmaceutical Alliance in Mumbai and pitched investment opportunities in the state’s pharmaceutical and life sciences sector.
“Telangana’s ambitious agenda is to double the size of our life sciences ecosystem from US $ 50 billion in 2020 to US $100 billion by 2030 and create 4,00,000 new jobs,” KTR said.
