9 firms to ink pacts on investments in textile sector

Vijayawada: The state is set to secure fresh investments in its textile sector, with nine companies expressing interest in setting up manufacturing units in the state. Handloom and textiles minister S Savitha announced that the state government will sign Memorandums of Understanding (MoUs) with these firms during the Partnership Summit scheduled in Visakhapatnam on November 14 and 15. Minister Savitha held a meeting with representatives of the nine companies at the Secretariat, where five participated via video conference. The firms have proposed investments across mattress manufacturing, apparel production, garment manufacturing, and polyester weaving, with a focus on establishing their units in the Rayalaseema region.

“The government will finalise the specific locations for these industries at the Partnership Summit,” she said, adding that Andhra Pradesh’s new textile policy introduced by the coalition government generated strong investor confidence. She noted that several industrialists have shown keen interest in exploring the State’s textile opportunities, and more investors are expected to come forward in the near future. She also highlighted the government’s efforts to position the textile sector as a major employment generator and a pillar of industrial development in Andhra Pradesh. She said the government’s proactive policies, such as simplified approvals, infrastructure support, and targeted incentives, have created a conducive environment for textile-based enterprises.

Principal secretary of the handloom and textiles department R P Sosodia and commissioner Rekha Rani participated.