VIJAYAWADA: Minister for Handlooms and Textiles S Savitha announced that the Handlooms and Textiles departments secured investments worth Rs 4,381 crore during the recent CII Partnership Summit held in Vizag. These investments are expected to generate 6,460 jobs across the sector, she said.
Savitha noted that 43% of the targeted investments under the 2024–29 Textiles Policy were achieved at the Summit. The policy aims to attract Rs 10,000 crore over five years and the Rs 4,381 crore mobilised through eight MoUs marks a significant step toward that goal.
She added that the overall investment proposals worth Rs 13.26 lakh crore received during the Summit reflect the confidence investors have in the coalition government led by Chief Minister N Chandrababu Naidu.
In a statement issued on Wednesday, the Minister said the eight MoUs will facilitate the establishment of new textile industries in Visakhapatnam, Chittoor, Guntur, Sri Satya Sai and Anakapalli districts.