By June 2023, Kitex Garments will open its first unit in Telangana.
The company is a good example of how a state can get investments and create many jobs by being proactive.
The company has promised to put Rs 3,000 crore into Telangana and hire 28,000 people. Sabu Jacob, Managing Director of Kerala-based Kitex, which is the second largest player in the infant wear segment, said that at first, the company wanted to invest Rs. 1,000 crores in the State, but after seeing how the State government would handle it, it decided to invest more.
"We opened our company in the 1960s. We do business in the spice, textile, and clothing industries. We have put more than Rs. 3,000 crores into the area, giving jobs to about 15,000 people. We send about a million clothes to the US every day. We had to leave Kerala because of political harassment, a shame. In a month, there were 12 raids. "Kerala didn't see how valuable we were," Jacob said at the CII's annual meeting.
"We had thought about leaving the state. People from States called us. Telangana also asked us to come, but they went all out to make sure we had a special jet to get there. The date was August 20, 2021. Once we arrived, a helicopter took us to the Kakatiya Mega Textile Park. I invested Rs 1 trillion in the State when we got home that night. I did not consult anyone.
"I never thought I'd be treated like this. I asked KT Rama Rao if he wanted to bring investment or jobs to the State. He said right away that the State wants jobs," Jacob said. In the following days, Kitex's investments went up to Rs 2,000 crore, Rs 2,400 crore, and Rs 3,000 crore. This also includes the money it has put into Sitarampur.
We will hire 28,000 people, 80% of whom are women. We will teach them the skills they need," Jacob said, adding that with the Telangana units, Kitex could send 2.5 million units of "Made in Telangana" baby clothes to the US. "We want a Minister like KTR. "Many people from Kerala want to put money into Telangana," he said.
Suchitra Ella, the Chairperson of the CII Southern Region, said that competitiveness is a key factor in any industry's growth and success. CII has built strong tools to help businesses and industries become more competitive.
Like Ease of Doing Business, Cost of Doing Business (CoDB) is something that CII is pushing for. It will consider the cost of finance and capital, the cost of compliance, and the cost to society and the government. She said this would help States determine what changes they need to make to be more efficient and lower costs.