KTR breaks ground for Youngone Corporation’s factories
PNS | Hyderabad
Industries Minister KT Rama Rao broke ground for 11 factories of the Youngone Corporation at the Kakatiya Mega Textile Park, Warangal, along with Panchayat Raj and Rural Development Minister Errabelli Dayakar Rao on Saturday.
The Ambassador of the Republic of Korea to India, Chang Jae-bok, and the Chairman & CEO of Youngone Corporation, Kihak Sung, attended the groundbreaking ceremony. Addressing the gathering, KTR said that the Youngone factories at KMTP will employ 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. The manufacturing units will make sportswear, knitting, textiles, dyeing & finishing and poly products.
Founded in 1974, the Youngone Corporation is a leading global manufacturer of outdoor/athletic clothing, textiles, footwear and gear and has a history of innovation, partnership and trust.
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 centre for their children.
The Minister also said that the factories will adhere to international standards, and the garments produced in Telangana will be exported to the US, Europe and other areas. Speaking on the importance of India’s growth in the textile sector, KTR 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 the Kakatiya Mega Textile Park is a significant step in this direction, fostering the growth of the textile sector and generating substantial employment.
