AP’s Draft Textile Policy Aims To Get Rs 10K Cr Investments

Amaravati: The new textile policy has been designed with the goal of inviting Rs10,000 crore investments to the State which can provide two lakh jobs.

Chairing a review meeting on the new textile policy being adopted by the State Government,Chief Minister N Chandrababu Naidu has told the officials here that the policy should be much better than the 2018-23 policy adopted then.

Naidu felt that employment to rural women can be provided on a large scale in this sector as the State will be the best platform for investments in textiles once the new policy is adopted.

The Chief Minister who expressed satisfaction over the draft policy gave his assent to it which will be brought before the Cabinet soon.

The State Government has already announced over 10 such new policies relating to various sectors. In the new textile policy, the State Government has decided to encourage weaving, processing, garments and integrated units by providing incentives besides increasing the capital subsidy.

Additional incentives are also proposed in the fresh policy for SC, ST, BC and Minorities besides women. The Chief Minister also conducted a review meeting on leather policy too and said that the State Government will take a decision on this only after further exercise on it.