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AP set up 9 spinning units with investment of Rs14,500 cr in 2015-16

YarnsandFibers News Bureau 2016-06-10 17:00:00 – Andhra Pradesh

In Andhra Pradesh state, spinning industry continues to run smoothly and bring cheer to the otherwise gloomy industrial scenario in the district. As of the top ten industries established in the district during 2015-16, nine are spinning/textile units with a combined investment of Rs.14,500 crore. With this, the combined production of all spinning mills is 15.74 lakh spindles during 2015-16. However, ITC Limited remains the biggest player.

Moreover, with cotton produced in 65,000 hectares in the district, spinning and ginning industries have always fetched good returns.

Of the combined annual turnover of Rs.11,540 crore of large and mega projects during 2015-2106, spinning mills accounted for Rs.6,500 crore.

Guntur Spinning Mills Private Limited was established this year in Nadendla mandal with an investment of Rs. 35.12 crore. Jyothirmayee Textiles too was established in Nadedla mandal this year with an investment of Rs. 45.50 crore and Patchala Spintex (P) Ltd was expanded with an investment of Rs.30 crore.

Deputy Director, District Industries Centre, Y. Ajay Kumar said that availability of raw cotton, skilled manpower, and incentives in the form of power subsidies, besides ease at which proposals are processed, are some of the factors responsible for the investments.

The year 2012-13 had been bad for the ginning industry, which reeled under prolonged power-cut and went into recession.

Soon after the new government came to power in 2014, the industries had been promised 24x7 power, and the industrial scenario began to look up. In 2015, the government came up with the single-desk policy and made the entire process of applying and processing online in 7-21 days.

Under the ‘Udyog Aadhaar’ memorandum, even the incentives were being provided online.

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