Guntur Textile Park hopes for a revival with new policy

The Andhra Pradesh Government’s newly approved Textile, Apparel, and Garments Policy 2024-29 has sparked optimism amongst industrialists at the struggling Guntur Textile Park.

Established in 2014 at Gopalamvaripalem near Chilakaluripet under a Central government initiative, the park originally planned 61 units, but only nine remain operational, running at 50 per cent capacity with 400 employees.

The new policy offers substantial incentives, including a 30 per cent investment subsidy, electricity at Rs 2 per unit, a 50 per cent electricity bill subsidy, and six years of sales tax waivers. Additional benefits include a 45 per cent subsidy for SC, ST, and BC women entrepreneurs and an 18 per cent bonus for units starting production within 18 months of registration.

Welcoming the policy, Saminen Koteswara Rao, Managing Director emphasized on the urgency of clearing Rs 1,100 crore in pending incentives from the previous decade. He called for a fixed timeline for subsidy disbursement, noting that timely support is crucial for achieving the policy’s vision.

Industrialists believe the incentives, if implemented effectively, will restore full capacity at the park, attract fresh investments, and generate employment, revitalising the local textile industry and boosting the region’s economy.