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Spinners thrive in Andhra Pradesh

In Andhra Pradesh, the spinning industry continues to run smoothly and bring cheer to the otherwise gloomy industrial scenario in the district. As of the top 10 industries established in the district during 2015-16, nine are textile spinning units with a combined investment of Rs14, 500 crores. With this, the combined production of all spinning mills is 15.74 lakh spindles during 2015-16. However, ITC remains the biggest player.

Availability of raw cotton, skilled manpower, and incentives in the form of power subsidies, besides ease at which proposals are processed, are some of the factors responsible for the investments. Moreover, with cotton being produced in 65,000 hectares, spinning and ginning industries have always fetched good returns. Of the combined annual turnover of Rs11,540 crores of large and mega projects during 2015-2106, spinning mills accounted for Rs 6,500 crores.

The year 2012-13 had been bad for the ginning industry, which reeled under prolonged power cuts and went into recession. Soon after the new government came to power in 2014, industries were promised 24x7 power, and the industrial scenario began to look up. In 2015, the single-desk policy made covered the entire process of applying and processing online in 7 to 21 days. Under the Udyog Aadhaar memorandum, even incentives are being provided online.