
Kurnool kicks off construction for MSME Park to boost textile industry
The Kurnool district administration has commenced construction of a Micro, Small, and Medium Enterprises Park at Banavasi in Yemmiganur mandal, with the aim of strengthening the local textile industry. The project began on Tuesday with a 'bhumi puja' ceremony and marks a key step in the region's industrial development.
The first phase of the project will see the development of core infrastructure across 22 acres, expected to be completed within three months, Apparel Resources India reported. Plans for the remaining 50 acres include setting up textile-focused units and an effluent treatment system, intended to support sustainability and production efficiency.
S. Savitha, minister for BC welfare, handlooms, and textiles, reaffirmed the state's support for handloom weavers during the event. She highlighted that 200 units of free electricity are provided monthly to handloom weavers and 500 units to powerloom operators. The state has also allocated Rs 348 crore for developing handloom clusters and organising exhibitions.
Industries and commerce minister T.G. Bharath said he would promote the use of Yemmiganur-made textiles within the industries department. Bharath also plans to approach the Tirumala Tirupati Devasthanams to encourage adoption of locally woven shawls. The park is expected to attract textile entrepreneurs and provide employment while promoting traditional weaving in the region.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Fashion Network
4 hours ago
- Fashion Network
True Diamond raises Rs 26 crore in pre-series A funding round
Lab-grown diamond jewellery brand True Diamond has raised Rs 26 crore ($3 million) in a pre-series A funding round led by India Quotient, with participation from existing investors Titan Capital Winners Fund and Huddle Ventures. The company will utilise the funds to accelerate its omnichannel strategy, focusing on offline expansion. It already has retail outlets in Mumbai, Hyderabad, and Noida with plans to launch more stores across metro cities. Commenting on the funding, Parin Shah, founder of True Diamond in a statement said, 'We never wanted to be just another jewellery brand. We're building a next-gen brand experience, through high-quality lab-grown diamonds, cutting-edge content, and a retail journey that breaks away from the conventional. This round gives us the ability to scale this vision faster.' Sahil Makkar of India Quotient added, 'We see immense potential in the lab-grown diamond and gold combination as a category within the massive jewellery market. Under the leadership of Parin and Darayus, we've observed True Diamond evolving into an aspirational omnichannel retailer within this segment, and we are thrilled to be a partner in this journey." Founded in early 2024 by Darayus Mehta and Parin Shah, True Diamond offers a variety of products, including rings, earrings, pendants, necklaces, mangalsutras, bracelets, tennis bracelets, amongst others.


Fashion Network
4 hours ago
- Fashion Network
Active Clothing Co Ltd Q4 net profit rises 171 percent to Rs 4 crore
Active Clothing Co Ltd reported a 171 percent increase in net profit to Rs 4 crore ($466,298) for the fourth quarter ended March 31, as against Rs 1 crore in the year-ago quarter. The company's revenue for the quarter rose by 80 percent to Rs 68 crore, as against Rs 38 crore in the corresponding quarter of the previous fiscal year. For the full financial year, the company's net profit stood at Rs 8 crore on a sales revenue of Rs 296 crore. Commenting on the results, Rajesh Mehra, managing director of Active Clothing Co Ltd in a statement said, 'We are pleased with our strong performance in Q4 and throughout FY25, which underscores the resilience of our business model and the effectiveness of our strategic priorities. This growth reflects our continued focus on innovation, operational excellence, and deepening our engagement with global fashion brands. 'We remain confident in the momentum we've built and are excited about the opportunities ahead. As we continue to invest in smart manufacturing, digital solutions, and new product categories, we are well-positioned to sustain this growth trajectory and deliver long-term value to all stakeholders,' he added. The Punjab-based Active Clothing Co Limited is one of the leading sweater and knitted garment manufacturing companies in India. It designs, manufactures, and distributes apparel for men, women, and kids.


Euronews
4 hours ago
- Euronews
EU hits back against 'Buy China' policy in medical devices market
EU member states' representatives voted this week for retaliatory measures against Chinese restrictions on European medical device manufacturers, diplomatic and EU sources confirmed to Euronews. This followed an investigation by the European Commission found "clear evidence" that China unfairly blocked EU-made medical devices from its procurement market. It represents the first countermeasure implemented using an International Procurement Instrument (IPI), which came into force in August 2022, designed to ensure fair access for EU firms to procurement opportunities outside the bloc. Ambassadors adopted the proposal midweek, but the details are expected to be published in the EU's Official Journal in the coming days. 'We had truly hoped that the International Procurement Instrument process would lead to more meaningful dialogue and progress with China, but unfortunately, that hasn't happened yet,' said Oliver Bisazza, CEO of MedTech Europe, the EU's association of medical device manufacturers. Bisazza wants to see the full details before reacting, but he pointed out that medical device companies remain committed to constructive engagement between the EU and China. 'This sector is vital for saving and improving people's lives and maintaining essential healthcare infrastructure, offering crucial services. This is something both parties should consider,' he added. EU companies have long struggled to gain access to China's public procurement market, despite China being one of Europe's largest trading partners for medical devices - accounting for 11% of export destinations in 2022. The Commission's investigation focused on China's government procurement law, which enforces the so-called "Buy China" policy, requiring public entities to prioritise domestic products and services, with limited exceptions. The probe found that EU manufacturers face a range of obstacles, including opaque approval systems, discriminatory certification procedures, vague national interest clauses used to exclude foreign bidders, and pricing pressures that are often unfeasible for European firms. One stark example: in Guangdong Province, the number of 'approved' imported medical devices dropped from 132 in 2019 to just 46 in 2021, highlighting the tightening of market access for EU firms. The China Chamber of Commerce to the EU responded with concern, tweeting that the IPI measures send 'a troubling signal' for bilateral trade ties. In a follow-up statement, the Chamber argued that the targeted use of the IPI risks becoming a de facto trade barrier and urged the EU to reconsider the necessity and long-term impact of such actions. The measures come at a sensitive moment in EU-China relations, which are currently undergoing a tentative diplomatic reset. After years of friction, the two sides have stepped up engagement to manage long-standing disputes. Much of this renewed dialogue is a response to shifting global dynamics, including the Trump-era trade war and broader US-China tensions, which have prompted Brussels to pursue a more balanced approach. A key milestone in this reset is the upcoming EU-China Summit, now confirmed to take place in Beijing in the second half of July 2025. Despite the escalating procurement dispute, a Commission spokesperson downplayed concerns that the IPI measures would damage broader trade relations. 'We've been making very clear to any global partners with whom we believe there is a problem as regards to the level playing field for procurement: should those problems not be removed, we would be forced to take action,' said the spokesperson. On Wednesday, EU Trade Commissioner Maroš Šefčovič met with Chinese Minister Wang Wentao on the sidelines of the OECD Ministerial Council – their third meeting overall and second in person. According to the Commission, the talks covered a wide range of critical bilateral issues as both sides work to ensure progress ahead of the July summit.