K.T. Rama Rao, the Municipal Administration and Urban Development Minister and the Information Technology, Electronics and Communications Minister of Telangana, met Smriti Irani, the Textiles Minister of India.
On the 26th of November, Mr. Rao met Smriti Irani in Delhi and discussed the Kakatiya Mega Textile Park, which is going to be located in Warangal, Telangana.
Rao also urged the Textiles Minister to fund the Mega Powerloom Cluster in Sircilla and the Textile Park under the Comprehensive Powerloom Cluster Development Scheme.
Briefing Ms. Irani about the benefits of the Textile Park, KTR said spread over 1,200 acres in Warangal, it would help in developing the State’s textile industry. The Park would be in accordance with the draft policy of ‘Development of Manufacturing Regions for Textile and Apparel (MRTA) sector.’
KTR said approximately 14 large textile and apparel companies signed Memorandums of Understanding with the Telangana Rashtra Samithi (TRS) for the Park and are ready to invest Rs. 3,020 crores. The Park already received a foreign direct investment (FDI) commitment of about $ 145 million from M/s Youngone Corporation, South Korea.
KTR said the State Government already asked for support from the Central Government and submitted a proposal for the same, under the Scheme for Integrated Textile Parks and the Integrated Processing Development Scheme.
In his proposal, KTR asked for Rs. 897.92 crores from the Central Government for the Textile Park.
KTR was in Delhi to attend the CRISIL India Infrastructure Conclave 2019.
Later, KTR also met Prakash Javadekar, the Minister of Environment, Forest and Climate Change Minister and the Minister of Information and Broadcasting, along with Members of Parliament (MPs) of the TRS.
Stay tuned for further updates.