Leading lifestyle brand Shoppers Stop will soon set up its manufacturing unit in Telangana, it was announced here on Friday.
The Telangana government and Shoppers Stop entered into a Memorandum of Understanding (MoU) in the presence of Industries Minister K.T. Rama Rao in Mumbai.
According to the MoU, Shoppers Stop will set up an apparel manufacturing unit at Sircilla Apparel Park in Telangana.
"Delighted that the apparel manufacturing unit of Shoppers Stop will be coming up at Sircilla. Employment opportunities to hundreds of women will be created and a huge step forward for apparel park, Sircilla," said Rama Rao.
The MoU was signed by state's Principal Secretary, IT & Industries, Jayesh Ranjan and Shoppers Stop Managing Director & CEO Rajiv Suri.
The minister also held talks with industry leaders from the textile sector in Mumbai. He explained to them the investment opportunities in Telangana.
KTR, as the minister is popularly known, gave an overview of the progressive industrial policies and also the single-window clearance system under TSiPASS. He also mentioned the industrial parks coming up in the textile sector in Telangana.
KTR also met the pharma leaders and representatives of the Indian Pharmaceutical Alliance. He highlighted the investment opportunities in the pharmaceutical and life sciences sector in the state.
"Minister thanked the Indian Pharmaceutical Alliance for the opportunity to present at their apex council meeting. Telangana's ambitious agenda is to double the size of our life sciences ecosystem from 50 Billion USD in 2020 to 100 Billion USD by 2030 & create 400 thousand new jobs," he said in a tweet.