The Andhra Pradesh government is set to unveil a new textile policy aimed at attracting investments worth ₹10,000 crore to the state’s textile sector. Chief Minister N. Chandrababu Naidu chaired a review meeting on Tuesday, November 26, where the draft policy was approved.
The new policy is designed to supersede the 2018-2023 policy and create a more conducive environment for textile investments. A key focus area is to generate employment opportunities, particularly for women, at the grassroots level. The government envisions creating 2 lakh jobs across various segments, including weaving, processing, garments, and integrated textile units.
To incentivize investments, the policy offers a range of benefits such as capital subsidies and additional incentives for specific groups, including Scheduled Castes, Scheduled Tribes, Backward Classes, minorities, and women.
By implementing this new policy, the Andhra Pradesh government aims to position the state as a leading destination for textile manufacturing and processing. The policy is expected to drive economic growth, boost exports, and contribute to the overall development of the state’s textile industry.
