Motivated by the newly launched government schemes, many textile and apparel companies in India have announced expansion plans.
India’s leading textile giant, the Gujarat-based Arvind Ltd has signed a Rs 3,000-crore MoU with the Gujarat Government to develop projects across group verticals textiles, engineering and real estate.
In Tamil Nadu, The Ramraj Group has announced an investment of Rs. 1,000 crore over the next five years to set up textile processing, weaving and spinning units. These units will help the state create 5,000 jobs, says KR Nagarajan, Founder and Chairman of the group.
Known for yarns manufacturing, GHCL Textiles plans to invest Rs. 535 crore over the next four years towards capacity and product basket expansions, vertical integration of textile manufacturing to include knitted and woven finished fabrics, as well as the enhancement of the green energy portfolio.
Jeyavishnu Clothing (KM Knitwear Group) is investing Rs. 330 crores in textile spinning and processing segments and expected to generate over 2,500 jobs.
Another leading player, SCM Garments is investing Rs. 500 crore over five years to set up new apparel units, install solar and wind energy plants.
Known for manufacturing fine cotton bedding for top European designer brands, Paramount Textile Mills is expanding its scope in the US market. It has recently appointed home textiles veteran Jayesh Saxena as president of global sales and marketing to lead that effort.
