Karnataka

Textile investors to meet in Bangalore on Saturday

The government will hold a State-level meet of textile investors here on Saturday to attract investments to the textile park coming up in Yadgir district.

Chief Minister Siddaramaiah, who made a commitment to set up the textile park in his budget speech, will inaugurate the meet. Apart from investors from various parts of the country, textile giants from China and Hong Kong have expressed their willingness to invest in the textile park, according to sources.

Roadshows

The government aims to attract an investment of Rs. 10,000 crore. Officials of the Textiles Department have been conducting roadshows in various parts of the country from the past two months to make the event a success.

Minister for Textiles Baburao Chinchansur told presspersons on Tuesday that over 500 investors were expected to participate in the meet. “Investors from Gujarat, Andhra Pradesh and West Bengal are keen on investing in Yadgir,” he said.

The textile park is coming up on 1,000 acres of the 3,200 acres of land acquired by Karnataka Industrial Areas Development Board (KIADB) near Kadechur–Baidyal villages in Yadgir district. Farmers had been paid a maximum of Rs. 7.5 lakh an acre as compensation for the land acquired.

This article is closed for comments.
Please Email the Editor

Printable version | Oct 25, 2020 1:41:59 PM | https://www.thehindu.com/news/national/karnataka/textile-investors-to-meet-in-bangalore-on-saturday/article6357532.ece

Next Story