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Ten Tirupur industrialists committed to invest in Warangal textile park

YarnsandFibers News Bureau 2017-02-18 14:00:00 – Coimbatore

The Telangana state is trying to woo investors to the mega textile park in Warangal. The park, which is coming up on 2,000 acres, is expected to create large-scale employment. Around 1,200 acres have been earmarked in the first phase of development, and according to the minister, the vision is to have a “fibre to fabric (end-to-end)” facility.

Minister for Industry and Commerce KT Rama Rao said that at least ten industrialists from Tirupur have committed to invest in Telangana.

Rao, touring this part of the state, said that Telangana has been ranked top in ease of doing business. The investor can self-certify and commence the project, although for regulatory purposes, they have been urged to register online simultaneously.

He added further saying that if it is a mega project, they promise approval in 15 days. If the promoter does not receive approval within the specified time in that case the project is deemed certified, but the bureaucrat who had failed to clear the proposal is fined ₹1,000 a day for the delay.

Highlighting the advantages of investing in the textile park at Warangal, the Minister said that Telangana produces 60 lakh bales of cotton, but the consumption by the local mills is just around 10 lakh bales. The surplus is offloaded in States such as Tamil Nadu. The mills in this region could relocate and enjoy proximity to raw material source.

Earlier, addressing the management students at PSG College of Technology, Rao urged them to “think big” and tap opportunities as there is no bigger power than human intellect.

Government of Telangana has inked an agreement with PSG and Department of Handlooms and Textiles and Apparel Export Parks. Under the agreement, Telangana on its part has offered to provide funds for specific tasks assigned to PSG while PSG and Department of Handlooms and Textiles and Apparel Export Parks will undertake to provide technical assistance in skill development and training and R&D support for technological upgradation.

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