Andhra Pradesh’s New Textile Policy Targets ₹10,000 Crore Investment and 2 Lakh Jobs
The Andhra Pradesh government is introducing new policies to boost industrial growth by attracting substantial investments. As part of these efforts, more than ten policies have already been announced. In line with this initiative, the state government has now decided to launch a new Textile Policy. Chief Minister Chandrababu Naidu reviewed the draft of this policy at the Secretariat on Tuesday.
Key Highlights of the New Textile Policy
Investment Target: The policy aims to attract investments of ₹10,000 crore, with the potential to generate employment opportunities for 2 lakh people.
Support for Industries: The policy includes incentives to promote weaving, processing, garments, and integrated textile units.
Increased Capital Subsidy: Provisions for enhanced capital subsidies will be included, particularly for SC, ST, BC, minority communities, and women entrepreneurs.
Vision and Expectations
The Chief Minister emphasized that the new policy should surpass the benefits of the 2018-23 Textile Policy.
He highlighted that the investments would significantly contribute to rural employment, particularly for women, and position Andhra Pradesh as a leading destination for textile manufacturing.
Expressing satisfaction with the draft, the Chief Minister approved the policy and announced plans to present it to the Cabinet soon.
Focus on Leather Policy
In addition to the Textile Policy, Chief Minister Naidu also reviewed the draft of a proposed Leather Policy. He directed officials to conduct further consultations before finalizing it.
Participants in the Review Meeting
The review session was attended by Minister K. Savitha and senior officials from various departments.