Telangana government has allocated Rs 1,200 crore for the textile sector for the year 2017-18, of which close to Rs 373 crore will be used for the handloom sector, while Rs 827 crore has been earmarked for powerlooms and their modernisation. The state has generated about Rs 73,000 crore in investments and created 2.56 lakh jobs.
The investments were made in the state after the introduction of the Telangana State Industrial Project Approval and Self-Certification System (TS-IPASS), KT Rama Rao, state information technology and industries minister said while releasing the department of industries and commerce’s 2016-17 annual report.
Some industrial parks which include the Kakatiya Integrated Mega Textiles Park and Sircilla Apparel Park will also be established in Telangana, Rao said.
Telangana has achieved a YoY growth of 10.1 per cent in gross state domestic product (GSDP) as compared to the national average of 7.1 per cent in FY17, according to the report.
The state has also been ranked first for ease of doing business reforms for 2015-16 by World Bank due to TS-IPASS, the minister said.
– Apparel and Textile News, Apparel Talk, Indian Apparel
