5 companies to invest Rs, 2,000 cr in AP

New Delhi: Ministerfor handlooms and textile S Savitha said five companies came forward to invest Rs 2,000 crore in handloom sector in Andhra Pradesh providing employment opportunity to 15,000 people. She said that the state government will sign an MoU with those companies soon.

The minister participated in Bharat Tex 2025 international exhibition at Delhi on Monday and interacted with both national and international investors.

Savitha explained to the investors about the industry-friendly atmosphere created by Chief Minister N Chandrababu Naidu in the state. She said that the state government formulated new textile policy for the benefit of investors.

Advance Textile Association, ITMF, Moscow Chambers of Commerce and two other organisations came forward to invest in the state. She said Karnataka investors showed interest to invest in Yemmiganur textiles park. Guntur Textile Park is ready to set up textile warehouse in Russia.