Kerala’s loss, Telangana's gain: Kitex to invest Rs 1k crore in Warangal textile park
Telangana scored over Kerala in attracting the investment in textile sector.
HYDERABAD/KOCHI: Telangana scored over Kerala in attracting the investment in textile sector. Kochi-based Kitex Garments Limited has decided to invest Rs 1,000 crore in Kakatiya Mega Textile Park, Warangal.
“We will invest Rs 1,000 crore in the first phase. We will invest more in Telangana in the coming days,” Kitex Managing Director Sabu Jocob announced after a meeting with Industries Minister KT Rama Rao on Friday.
The first phase investment by Kitex will create 4,000 jobs. During the meeting, Minister KT Rama Rao explained the TS-iPASS, single window system and other investor-friendly policies of the State government. The Telangana officials informed the Kitex delegation, which arrived here by a special flight arranged by the Telangana government, that as per the volume of investment they proposed, the Kitex would get mega-project status and it would also get tailor-made incentives.
While heaping praises over the interest shown by the Telangana government, the Kitex delegation informed Rama Rao that as part of their expansion plans, they were interested to invest outside Kerala and preferred Telangana. “The Telangana government took quick decisions on our investment proposals. We can rarely see such type of swift decisions by the State governments,” the Kitex delegation said.
The delegation also said that they were impressed by the industrial policy of the State government and
textile industry-friendly attitude of the government. After meeting Rama Rao, the delegation was taken to the 1,200-acre Kakatiya Mega Textile Park in Warangal in a special chopper from Hyderabad. The delegation felt that Kakatiya Mega Textile Park is the biggest textile part in the country.