India-based Kitex Garments announces ₹1000-cr investment in Telangana
Kerala, India-based Kitex Garments Limited recently announced it will invest ₹1,000 crore for setting up a textile unit at the Kakatiya Mega Textile Park in Telangana state’s Warangal district in the first phase. Company managing director Sabu M Jacob also assured the state of more investments in future. A company delegation recently visited the park by a special flight arranged by the state government.
“We had an excellent interaction with IT [information technology] and industries minister KT Rama Rao. My experience with him and other officials was totally different from the discussions I have had with several other state governments,” Jacob told a top newspaper from the state.
Rama Rao would accompany the company delegation to Warangal the next time for another round of discussions.
The proposed investment by the company will get mega project status under TS-iPASS, a certification service to establish industries, manufacturing, and services in the state, and accordingly, tailor-made incentives would also be offered by the state government, the minister informed the delegation.
Kitex Garments has recently decided to drop its ₹3,500-crore investment project declared during Ascend Kerala Investment Summit in January 2020 because of continuous surprise inspections by bureaucrats from various departments.
The Kerala projects included an apparel park employing 20,000 and three industrial parks at Kochi, Thiruvananthapuram and Palakkad.