VIJAYAWADA: Industries and Commerce and Textiles Minister Mekapati Goutham Reddy has said the State government is taking steps for converting yarn produced in the State into fabric and garments within the State itself and promoting AP as a destination for global textile majors. Participating in a webinar organised by Invest India Exclusive Investment Forum on Friday, the minister highlighted the opportunities in the State and asserted that AP was taking various steps to make it country’s textile hub.
“We will build common infrastructure and provide 50 percent subsidy on development expenses of integrated textile parks located near ports to facilitate imports and exports,” the minister assured. The government’s plan is to develop the missing segments of entire textile value chain and create an ecosystem that provides more jobs, which in turn can prevent migration and harness the potential within the State.
Stating that Chief Minister YS Jagan Mohan Reddy reached out to the MSME sector by clearing the incentives pending for the past five years, the minister said the government would also clear dues to textile industries to the tune of `1300 crore, which is pending for the past seven years. “New industrial policy contemplates creation of a world-class workforce by setting up 30 skill development colleges,” he said.
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