Inter-state textile investors meet in Karnataka on Aug 30

An inter-state investors meet to attract investments in textiles will be held in Yadgir District in north Karnataka on August 30, state's Textiles and Ports Minister Baburao Chinchansur said today.
About 500 investors from various states are expected to participate in the meet, the Minister told reporters here.
He said a textile park of international standard will also be set up in Yadgir district by the Centre. "Around Rs 10,000 crore is expected to be invested in this project."
Chinchansur said such investments would help the region, which was identified as the most backward in the state by Nanjundappa Committee, in terms development. Of the 3,300 acres of land acquired by the government, 1,000 acres will be used for setting up the textile park, Chinchansur said.

The park will also improve the condition of cotton growers and weavers, who are residing in neighbouring Raichur district, the Minister said. "It will provide people with employment opportunities too," he added.
The Krishna and Bheema rivers, alongwith National Highway and Railway Line, in the vicinity of the proposed park will come in handy to kickstart the venture, he said.
Adequate compensation has been paid to farmers for giving up some 800 acres of land for the project, he said.