KTR lays foundation stone for Youngone Corporation’s factories
Speaking on the occasion, Mr KTR said that the Youngone factories at KMTP will generate employment for 21,000 people.
Warangal: Telangana Industries and Commerce Minister K.T. Rama Rao (KTR) had laid foundation stone 11 factories belonging to Youngone Corporation, a leading global manufacturer of outdoor/ athletic clothing, textiles, footwear and gear, at Kakatiya Mega Textile Park (KMTP), here on Saturday.
Speaking on the occasion, Mr KTR said that the Youngone factories at KMTP will generate employment for 21,000 people.
Four factories will be set up in the first phase providing employment to nearly 6,000 people, and seven more will come up in subsequent phases, he said the manufacturing units will be in the areas of sportswear manufacturing, knitting, textiles, dyeing & finishing and poly products.
Mr KTR assured that the majority of jobs at the factories will be reserved for locals, particularly women.
The Minister also announced plans to provide transportation facilities for women and establish a daycare center for their children.
The Minister highlighted that the factories will adhere to international standards, and the garments produced in Telangana will be exported to America, Europe, and other nations.
Addressing the importance of India’s growth in the textile sector, the Industries Minister emphasized that reforms in this industry would positively impact employment, provide support to farmers through assured Minimum Support Price (MSP), and increase the State’s revenue.
The establishment of Kakatiya Mega Textile Park is a significant step in this direction, fostering the growth of the textile sector and generating substantial employment opportunities, he added.
State Panchayat Raj and Rural Development Minister Errabelli Dayakar Rao, Ambassador of the Republic of Korea to India, Chang Jae-bok, Chairman & CEO, Youngone Corporation, Kihak Sung participated in the ground breaking ceremony.
