Minister KT Rama Rao has been making quick moves to make Telangana a good avenue for investment and why it is a potential place for investors. In a major move, KTR sent a private jet to Kerala for Kitex Group MD Sabu Jacob and his officials.
KTR made the move after Kitex Group MD Sabu Jacob spoke about the major fallout with the Kerala government alleging that the state government has been harassing them as they have conducted 11 inspections in a span of one month.
Kitex Group MD Sabu Jacob had threatened to withdraw Rs 3500 crore investments that he had announced in the past. In his statement, he said that he is not abandoning Kerala, but has been kicked out of it. After the major fallout, nine states approached MS Sabu Jacob to make him invest in their respective states.
States like Karnataka, Tamil Nadu also offered handsome subsidies to make Kitex Group invest in them. On the other side, KTR also acted quickly and sent a private jet who held a meeting today. The minister gave a bird-eye view of the industrial policies and availability of the required resources for the textile section in Telangana.
The company, the world’s second-largest manufacturer of kids apparel has agreed to enter Telangana with an initial investment of ₹1,000 Crore. They have chosen KMTP, Warangal for their factories.
Delighted to announce the entry of KITEX group, world’s 2nd largest manufacturer of kids apparel into Telangana with an initial investment of ₹1,000 Cr
They’ve chosen KMTP, Warangal for their factories
My gratitude to Mr. Sabu M. Jacob, MD of KITEX group on a quick decision 🙏 pic.twitter.com/CgMf67DpxN
— KTR (@KTRTRS) July 9, 2021