An Integrated Textile Park (ITP) being developed at Edlapadu on Guntur-Chennai National Highway is expected to give the much-needed fillip to textile industry in Andhra Pradesh. The textile park coming up on a 70-acre stretch is expected to house about 100 small scale industries relating to garment manufacturing, weaving, packaging and other accessories manufacturing units.
Being promoted as a Special Purpose Vehicle (SPV) Guntur Textile Park Pvt. Ltd by A.P Spinning Mills’ Association (APSMA), AP Cotton Association and Guntur Ginners’ Welfare Association, the textile park is expected to start functioning in the next few months.Entrepreneurs willing to set up units in the textile park would be provided a front unit subsidy of Rs.1.50 crore and can avail loans from banks through 1:1 debt equity ratio.
Andhra Pradesh with a production of 84 lakh bales in 2013 is the second largest producer of cotton next to Gujarat.