After losing Kitex to Telangana, Pinarayi Vijayan to showcase Kerala
Chief Minister Pinarayi Vijayan will interact with prominent industry leaders of Telangana, members of CII, CREDAI, representatives of IT, pharma and other industries to discuss investment opportunities in Kerala at the state’s Investment roadshow in Hyderabad on Friday evening.
A statement from the CM’s office said a high-level delegation led by Vijayan, including Chief Secretary V.P.Joy among others, will showcase the investment opportunities of the state in thrust sectors and emerging sectors such as bio-technology, information technology, pharma, and other sunrise sectors, before the entrepreneurs.
The legislative reforms, digital transformation, simplification of procedures and industrial infrastructure facilitation taken up by the state will also be showcased.
This fresh development has come at a time when in September last year Kerala-based textiles major Kitex Group announced that it will invest Rs 2,400 crore in Telangana to set up two integrated fibre to apparel manufacturing clusters.
Kitex headquartered at Ernakulam district after having disagreements with the state government took the gauntlet thrown by Telangana Industry Minister K.T. Rama Rao, who sent a chartered jet to bring Kitex Group Chairman and Managing Director Sabu M Jacob and held discussions with him and offered numerous soaps, to which Jacob agreed and inked the MoU signed with the government of Telangana.
Kitex has started work to set up integrated fibre to apparel manufacturing clusters at the Kakatiya Mega Textile Park in Warangal and at Sitarampur in Rangareddy district.
The investment will provide direct employment to 22,000 people and indirect employment to 18,000 people and is scheduled to open in November this year.
–IANS
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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