Hyderabad

Kitex Group to invest ₹2,400 crore in Telangana

IT Principal Secretary Jayesh Ranjan and Kitex MD Sabu Jacob exchange the MoUs in the presence of Ministers K.T. Rama Rao, Errabelli Dayakar Rao and Sabita Indra Reddy in Hyderabad on Saturday.   | Photo Credit: NAGARA GOPAL

The Telangana government and Kitex Group, one of the largest garment manufacturers, signed an MoU under which the latter would invest ₹2,400 crore in the State and generate employment for 22,000 people, majority of whom will be women.

The Kitex Group will commence operations in Warangal in November 2022, IT Minister K.T. Rama Rao said.

Speaking on the occasion on Saturday, Kitex Group MD Sabu Jacob said, “I committed ₹1,000 crore investment and 4,000 employment. Today, I am glad to announce that I increased it and met more than the expectation,” he said.

He gave credit to Mr. Rao for this investment in Telangana. “I am here today only because of one person, and that is Minister K.T. Rama Rao. He is the first person to call and invite me to Telangana. I met him the first time, and the words he used were, ‘I will meet or beat’. That is what attracted me,” Mr. Jacob said, adding that Mr. Rao showed his commitment to the people of Telangana when he said that he wanted employment generation in the State.

The Kitex Group will invest ₹2,400 crore in units to be set up in Warangal and Sitarampur, where employees will enjoy PF and ESI benefits. The facility will also include food security in the form of food to employees at subsidised rates.

Mr. Rao said that 85-90% of the 22,000 workforce would comprise women. He lauded the Kitex Group’s target of supplying 3 million pieces of garments.

Assuring the Group of the State government’s support, Mr. Rao said that legislators and ministers, including P. Sabita Indra Reddy and Errabelli Dayakar Rao, were invited to the event to ensure that the Group did not experience teething problems. “We wanted to ensure that your entry into Warangal and Sitarampur is smooth and without teething pains. We will cooperate with you fully. Already enough spade work has been done by local collectors and officials,” he said.


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Printable version | Oct 27, 2021 12:13:20 AM | https://www.thehindu.com/news/cities/Hyderabad/kitex-group-to-invest-2400-crore-in-telangana/article36538081.ece

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