As many as 12 MoUs were signed by the State government with different companies for setting up 12 apparel units with an investment flow of about₹963 crore during the recent CII Partnership Summit held here, said K. Srikanth Prabhakar, Joint Director, Commissioner of Handlooms and Textiles, AP Government.
The investment would also generate about 46,000 jobs and this shows that the State government is keen on encouraging the sector in a big way, Mr. Prabhakar said at an interactive session with entrepreneurs here on Wednesday. The session was attended by officials from the State and Central governments and members from the AP Chambers of Commerce and Industries Federation. This was the right time for the entrepreneurs to invest in the textile sector as a number of benefits were being offered by the State government and the Union government also announced a number of sops for the sector in the Budget.
Giving details of the 12 projects, he said that they would come up in the next one to one-and-a-half years. Four of the units would come up at the Brandix Apparel Park here, five would come up in Anantapur district and the rest in Chittoor district, he said. While the Deputy Director-General of Foreign Trade (DGFT), Alok Dwivedi spoke about the importance of promoting exports, Assistant Director-General of Foreign Trade, B. Punnam Kumar gave a detailed understanding of the Export Promotion Credit Guarantee (EPCG) scheme which enables entrepreneurs to import capital goods (machinery) without paying duty.
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