New textile policy of India's Andhra Pradesh aims $1.18 bn investment

27 Nov '24

1 min read

New textile policy of India's Andhra Pradesh aims $1.18 bn investment

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India's Andhra Pradesh state will soon launch a new textile policy, chief minister Chandrababu Naidu said after chairing a recent review meeting on the policy.
The aim is to attract investments worth $1.18 billion to the sector.
The draft of the new policy was approved by him at the meeting.
The state would encourage weaving, processing, garment manufacturing and integrated textile units.

India’s Andhra Pradesh state will soon launch a new textile policy, state chief minister Chandrababu Naidu said after chairing a review meeting on the policy recently. The aim is to attract investments to the tune of ₹10,000 crore (~$1.18 billion) to the sector.

The draft of the new policy was approved by him at the meeting. The earlier textile policy covered the years between 2018 and 2023.

“Our focus will also be on creating large-scale employment opportunities for women through setting up of a host of garment factories,” Naidu was quoted as saying by media reports from the state.

The state would encourage weaving, processing, garment manufacturing and integrated textile units.

As part of the policy, the state would raise capital subsidies and offer additional incentives for people from the scheduled caste, scheduled tribe and other backward classes communities, minorities and women, he said.

The draft policy would be presented before the state cabinet for its approval.

Naidu also reviewed the state's leather policy, suggesting more efforts for its effective implementation.

Fibre2Fashion News Desk (DS)

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