Telangana allocates Rs 1,200 crore to textile sector

14 Jun '17

1 min read

A budget of Rs 1,200 crore has been allocated by the state government of Telangana for the textile sector for the year 2017-18. Close to Rs 373 crore will be used for the handloom sector, while RS 827 crore has been allocated 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), said KT Rama Rao, state information technology and industries minister 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, said media reports quoting Rao.

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 annual report.

The state has also been ranked first for ease of doing business reforms for 2015-16 by World Bank due to TS-IPASS, said the minister. (KD)

Fibre2Fashion News Desk – India

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