Rs 10,000 cr investment in textile sector expected

 
Textiles Minister Goolihatti Shekar on Friday said around Rs 2,000 crore investment is likely to come from Gujarat-based textile firms alone. A recent road show in Gujarat received a good response. More than 50 textile firms attended the road show, he said.

“Mills in Surat source cotton from Karnataka to a large measure. We impressed upon them that they can set up units in Karnataka itself which will lower their production costs.  Karnataka produces nine lakh bales annually,” the minister said.

Memorandum of Understandings with the companies will be signed during the GIM. Shekhar also said a Mumbai-based company has come forward to set up a denim unit either in Nippani or Hosdurg, while a Chennai firm intends to set up a global apparel village near here with an investment of Rs 300 crore. He said road shows are planned to be organised in Sri Lanka, Turkey and Indonesia next month.

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