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Telangana welcomed Rs 1,000 crore investment from Kitex Garments


Telangana welcomed Rs 1,000 crore investment from Kitex Garments
Kitex Garments Limited, a renowned garments manufacturer located in Kerala, will invest Rs 1,000 crore in the first phase to establish a textile factory at Kakatiya Mega Textile Park in Warangal. Kitex Garments is the world’s second-largest children’s garment producer, and Telangana has benefited from Kerala’s loss. Earlier the company intended to invest 3,500-crore for its project in Kerala, citing harassment the garments manufacturer dropped its plan to invest in its home state.
In the meantime, Telangana actively welcomed the company and secured a guarantee for investment in India’s youngest state. Sabu Jacob, the chairman and managing director of Kitex Garments Limited was traveled on a chartered flight with his team from Kochi to Hyderabad, and in the evening, KT Rama Rao, Telangana’s Minister for Urban Dev, Industry & Commerce, announced via a tweet that the company would invest an initial 100 ....

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