Andhra Pradesh is looking to strengthen its traditional industries and create more employment opportunities. A new investment agreement aims to support local artisans and expand manufacturing activities.
Hyderabad-based company Namasthe World has signed a ₹36.24-crore Memorandum of Understanding (MoU) with the Andhra Pradesh government.
The company plans to establish sustainable apparel, handloom and toy manufacturing centres in Kurnool and Visakhapatnam.
The proposed projects are expected to create around 950 direct jobs and 100 indirect employment opportunities.
The agreement was signed during the 31st CII Partnership Summit in Visakhapatnam. The initiative aims to connect traditional craftsmanship with modern manufacturing and wider markets.
The project will also focus on using handloom fabric to produce garments and turning surplus materials into dolls and soft toys.
The investment is expected to support local artisans while strengthening the State’s manufacturing sector.
