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NTC to invest Rs 464 cr

NTC to invest Rs 464 cr
Highlights

National Textile Corporation (NTC) will invest Rs 464 crore in Andhra Pradesh in spinning and weaving processing projects. A high level meeting of Chief Minister N Kiran Kumar Reddy with Union Minister for Textiles, Kavuri Sambasiva Rao, held on Monday at CM Camp Office on the issue, finalised the modalities for investing Rs 464 crore in spinning and weaving industry.

Boost to State’s spinning & weaving processing projects

40 new proposals under ‘group approach’ and 15 under ‘cluster approach’ sanctioned

Hyderabad: National Textile Corporation (NTC) will invest Rs 464 crore in Andhra Pradesh in spinning and weaving processing projects. A high level meeting of Chief Minister N Kiran Kumar Reddy with Union Minister for Textiles, Kavuri Sambasiva Rao, held on Monday at CM Camp Office on the issue, finalised the modalities for investing Rs 464 crore in spinning and weaving industry.

Rao has agreed to sanction 40 new proposals under Group Approach and 15 proposals under Cluster Approach in the areas not covered earlier. A mega-cluster under comprehensive Handloom Development Scheme at Dharmavaram, Anantapur district would be considered in the next budget, Kavuri promised on the occasion. He informed that a proposal to bail-out Pochampally Handlooms Park was being considered by the Government of India and the details were being worked out by an official committee.

Rao further added that relaxation of norms under ‘Revival Reform and Restructuring (RRR)’ was under consideration of the Union Cabinet. He asked the officials to send proposals for upgrading of obsolete powerlooms in Siricilla in Karimnagar and Nagari in Chittoor district and has agreed to set up a ‘Centre of Excellence for Technical Textile fabric Sector’ in Andhra Pradesh apart from requesting to allot required land for the project.

Chief Minister said that the government was ready to link-up skill upgrading in handloom sector with Rajiv Yuva Kiranalu Programme for 15,000 to 20,000 people during the 12th five-year plan. Minister for Textiles and Handlooms G Prasad Kumar, APCO Chairman Murugudu Hanumantha Rao, Principal Secretary Industries Pradeep Chandra and Secretary Handlooms and Textiles Sabyasachi Ghosh and other senior officials from the Central and State government also attended the meeting.

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