The state government has formulated the Andhra Pradesh Textile Policy with the aim of providing employment and jobs to two lakh people and investments of Rs 10,000 crore. Chief Minister Chandrababu Naidu reviewed the handloom and textile sector with Minister Savita and the officials at the Secretariat.
Ten policies have already been announced to bring large-scale investments to the state, and Chandrababu suggested that a multi-purpose policy be formulated in the textile sector. The new policy should provide subsidies to investors, incentives to weaving, processing, garments and integrated units.
It has been decided to increase the capital subsidy and provide additional incentives to SC, ST and BC as well as women in the new policy. The investments coming into this sector should be much better than the 2018-23 policy, so that they provide employment to women from the village level.
Chandrababu expressed satisfaction with the draft of the new textile policy and said that he would discuss it in the cabinet soon and take a decision. Handloom Textile Department officials said that the 2024- 29 textile policy has a target of exporting billion dollars in five years.
Chief Minister said that integrated textile parks will be developed in 5 areas of the state under the PPP method. The goal of this policy, designed with the Farm to Fabric tag, is to convert all the yarn produced in the state into textiles.
He said that the draft has been divided into six categories, micro, small, medium, large, mega, ultra, etc., depending on the level of investment, and a maximum subsidy of Rs 10 crore has been provided. CM Chandrababu said that large-scale employment can be provided to women at the village level through investments in this sector.
Chandrababu said that the state will become the best platform for investments in textile manufacturing through the new policy. Along with the textile policy, the CM also reviewed the leather policy. CM Chandrababu suggested that the leather policy should be moved forward after further work.
