INVESTMENT NATIONAL
HYDERABAD, TELANGANA, INDIA
By IFAB MEDIA - NEWS BUREAU - August 12, 2024 | 0 3 minutes read
Chief Minister A Revanth Reddy, currently on an official tour of South Korea, has successfully positioned Telangana’s Mega Textile Park in Warangal as a premier investment destination for Korean textile companies. During a high-profile business roundtable hosted by the Korea Federation of Textile Industry (KOFOTI), Reddy emphasized the park’s strategic advantages and its potential as a hub for industry collaboration and growth.
The roundtable, attended by key figures in the Korean textile sector, featured notable personalities including Youngone Chairman Kihak Sung, KOFOTI Executive Vice-Chairman Soyoung Joo, and representatives from 25 major textile companies. In his address, Chief Minister Reddy showcased the Mega Textile Park’s state-of-the-art infrastructure, strategic location, and supportive investment climate, which he believes will foster significant opportunities for Korean investors.
Reddy’s presentation was met with "amazing enthusiasm" from the attendees, signaling a strong interest in exploring investment prospects in Telangana. The Chief Minister’s compelling pitch and the park’s potential to host industry leaders' gatherings have set a positive tone for future engagements between Telangana and the Korean textile industry.
To capitalize on the growing interest and translate the discussed opportunities into tangible investments, Chief Minister Reddy announced the establishment of a dedicated task force. This initiative, led by D. Sridhar Babu, aims to streamline the investment process and ensure that the promises made during the roundtable are swiftly and effectively realized.
The formation of the task force underscores Telangana’s commitment to fostering international business relationships and enhancing its textile sector’s global footprint. By actively pursuing these investment opportunities, Telangana hopes to accelerate economic growth and create new avenues for industry collaboration.
The positive reception in South Korea represents a significant milestone for Telangana’s Mega Textile Park and reflects the state's proactive approach to attracting global investment. As discussions progress, the Chief Minister and his team are optimistic about the potential for substantial investments that could drive further development and innovation in the region’s textile industry.