Published On:February 16 2017
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AP signs MoUs for 12 textile units.
The Andhra Pradesh Government is encouraging the textile sector in a big way and entrepreneurs should make use of the benefits being offered by the State as well as the special package given by the Union Government in the Budget to set up more units, according to K. Srikanth Prabhakar, the Joint Director in the office of the Commissioner of Handlooms and Textiles, AP Government.
He was speaking at an interaction session with entrepreneurs here on Wednesday in which the state government officials, the Union Government and the AP Chambers of Commerce and Industries Federation participated.
He said during the recent CII partnership summit here 12 MoUs were signed by the State Government with different companies for setting up 12 apparel units in the State entailing investment of Rs. 963 crores in all and generating 46,000 jobs. 'These 12 projects will come up in the next one to one-and-a-half years. Four of the units will come up in the Brandix apparel park here, including two by Chinese companies, five units in Anantapur district and the remaining in Chittoor district,' he added.
Alok Dwivedi, the Deputy Director-General of Foreign Trade, spoke about the importance of promoting exports in the sector and B. Punnam Kumar, the Assistant Director-General of Foreign Trade, spoke about Export Promotion Credit Guarantee (EPCG) scheme which enables entrepreneurs to import capital goods (machinery) without paying duty. They have, however, an export obligation in the first six years.
T. Indira, of the Employee Provident Fund Corporation, spoke about the Pradhan Mantri Paridhan Rojgar Protsahan Yojana under which the Union Government shall bear the entire 12 per cent contribution of the employer for new employees of the garment and apparel industry for the first 3 years, if the the employees are earning less than Rs. 15,000 per month.
Ramalinga Raju, the General Manager of the Visakhapatnam district industries centre, said clearances would be given speedily under the single window scheme and entrepreneurs should make use of the opportunity.
G. Sambasiva Rao, the president-elect of the Andhra Chambers of Commerce and Industry Federation, and others spoke.