The Telangana state recently sought about ₹898 crore from the Indian government for creating infrastructure at the upcoming Kakatiya Mega Textile Park (KMTP) in Warangal.

State minister for information technology and industries KT Rama Rao submitted a memorandum regarding this to minister for textiles Smriti Irani in New Delhi early this week.

The Telangana government has also submitted the required documentation sought during the project approval committee meeting.

The government asked for sanction of ₹897.92 crore for infrastructure at the textile park, and also early approval of the project, an official press release issued in Hyderabad said.

Rao also requested Irani to finalise the policy for Development of Manufacturing Regions for Textile and Apparel Sector (MRTA) so that projects like KMTP can benefit, the release said.

KMTP is in line with the draft policy of MRTA of the ministry of textile aimed at establishing manufacturing facilities for domestic and export-led production in apparel and other textile-related sectors, the release said.

The park has already received a foreign direct investment commitment of $145 million from Youngone Corporation, South Korea, and the Telangana government has signed memoranda of understanding for ₹3,020 crore with 14 textile and apparel companies, the release added.

Published On : 29-11-2019

Source : Fibre 2 Fashion