Textile manufacturer Kitex Group, which hit the headlines two years back moving out of Kerala, has increased its investment outlay in Telangana to ₹3,000 crore from the originally announced ₹1,000 crore.
“We are going to provide employment to 28,000 people, with 80 per cent being women,” Kitex Group Chairman and Managing Director Sabu Jacob has said.
The company’s facilities in the State could export 2.5 million pieces of infant garments to the United States.
Though several State Governments tried to outwit others in attracting the sulking Kitex Group management, the Telangana Government made a dramatic move by sending a private jet to Kerala to ferry the top management and offer them a site at the Kakatiya Mega Textiles Park in Warangal.
Addressing a CII gathering here on Tuesday, Sabu recounted the swift developments that followed its decision to move out of Kerala.
Blaming the Kerala Government for not treating it well despite employing 15,000 people, he said more and more Malayali investors would come to Telangana to set up factories here.
“We were overwhelmed by what Telangana had offered to us. The same day we announced an investment of ₹1,000 crore with the potential to provide employment to 4,000 people,” he said.
“We soon increased the investment outlay to ₹2,000 crore and to ₹2,400 crore last year. I’m announcing today that we will invest ₹3,000 crore,” he said.