India's Andhra Pradesh state approves Textile and Apparel Policy 4.0

The policy related to apparel and textile is aimed at attracting investments worth ₹10,000 crore ($1.18 billion), besides creating 200,000 jobs in the next five years. Five textile parks under the public-private partnership (PPP) mode will be set up.

Textile exports worth $1 billion have been targeted in the next five years, state minister for information and public relations Kolusu Parthasarathy said.

Highlighting chief minister N Chandrababu Naidu’s vision of ‘One Family, One Entrepreneur’, he said: “The IT policy has been adopted to provide employment to the youth and improve the economic condition of the state. It will certainly help promote every graduate to the global level, besides ensuring lucrative salaries.”

The Maritime Policy has been formulated to develop the state as a port-centric economy, banking on its 975-km long coastline. Efforts are also being made to encourage the shipbuilding industry. The chief minister is holding discussions with Prime Minister Narendra Modi for setting up a mega shipyard in the state, he was cited as saying by media reports from the state.

ALCHEMPro News Desk (DS)