Manchu Manoj, Mounika Manchu’s Namasthe World signs MoU with Andhra Pradesh

Namasthe World has signed a Rs.36.24-crore MoU with Andhra Pradesh to establish sustainable handloom, apparel and toy manufacturing centres in Kurnool and Visakhapatnam. The project is expected to generate 950 direct and 100 indirect employment opportunities

Hyderabad: Namasthe World, a Hyderabad-based storytelling and toy startup founded by Bhuma Mounika Manchu along with actor and entrepreneur Manchu Manoj, signed a memorandum of understanding (MoU) on handlooms and textiles with the Government of Andhra Pradesh at the 31st CII Partnership Summit on Thursday. The agreement aims to establish sustainable apparel, handloom and toy manufacturing centres in Kurnool and Visakhapatnam, with a proposed investment of Rs. 36.24 crore.

The project is designed as an integrated, sustainable manufacturing ecosystem in which nothing produced by a weaver goes to waste: handloom fabric is converted into garments, while surplus material is used to make dolls and soft toys.

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The two facilities are expected to generate around 950 direct jobs and 100 indirect employment opportunities across supply chains, logistics and ancillary services.

“Our vision with Namasthe World is to turn India’s incredible cultural heritage and traditional craftsmanship into contemporary, globally relevant businesses,” said Bhuma Mounika Manchu, Founder and CEO of Namasthe World.

“Through Namasthe World, we want to explore how creativity, technology and entertainment can support traditional industries, create new livelihoods, take India’s cultural strengths to a global audience and make ‘Made in Andhra Pradesh’ a global identity,” said Manchu Manoj, Co-Founder and Chief Innovation Officer of Namasthe World.

At the summit, Namasthe World presented its toy collection to Piyush Goyal, Union Minister of Commerce and Industry, who subsequently launched the company’s calendar.