Apparel Online India Magazine January 1st Issue 2019 | Page 40

INVESTMENTS
ROUNDUP
2018
EXPORTER MOVEMENT
E X PA N S I O N S C O N T I N U E I N A N O T H E R W I S E D U L L Y E A R
Growth is the essence of life and 2018 also witnessed growth for many in the industry in terms of expansion. As usual, top players expanded
by investing into capacities. Many mid-level exporters also had some interesting expansions. Significantly, companies not only invested into
capacity and explored new markets, but also improved their systems, their overall working and other such initiatives.
BIG INVESTMENTS…
January 16-31
March 16-31
KITEX GARMENTS
LTD. TO INVEST
RS. 500 CRORE
“We have two goals… The first, Rs. 2,000 crore revenue
and one million garment pieces per day by 2020, which
is on target; and the second is fixing target for 2025,
which is yet to be finalised.” – Sabu M. Jacob, CMD,
Kitex Garments Ltd.
After Jharkhand, Arvind Ltd. will expand in
Andhra Pradesh
Moving towards expansion, Indian textile and apparel conglomerate Arvind
Ltd. is now making investments in Chittoor (Andhra Pradesh). The Group is
also expanding on retail front. With initial investments of Rs. 250-300 crore,
the company plans to install a capacity of 24 million pieces of shirts and jeans
per annum in the state. For this, the company will have 100-125 acres of
land. This initiative is expected to create 15,000 jobs in the first phase. In this
regard, recently an MoU was signed between the Andhra Pradesh Economic
Development Board and Arvind Ltd.
TT LTD.
‘STITCHING’ MEGA
EXPANSION WITH
INVESTMENT OF
RS. 75 CRORE
“Garmenting has better margins, less volatility and
requires less capital. The recent textile policy of the UP
Government is very attractive and has special benefits for
a mega textile project. We have existing land and building
there, hence it suits us well. We shall arrange labour
from Eastern part of India and are tying up with skilling
companies to train...” – Sanjay K Jain, MD, TT Ltd.
40 Apparel Online India | JANUARY 1-15, 2019 | www.apparelresources.com
“AMRIT GROUP’S
MASSIVE EXPANSION
WITH INVESTMENT OF
RS. 80 CRORE
“Going forward despite all kinds of
challenges, I am optimistic about the
growth of apparel business. From
geopolitical perspective, each overseas
customer will have a certain percentage
that he has to source from India. It is
in their interest… This industry is also
important for the Government and
stakeholders, so they all will always find a
way to survive and grow.”
ANIL BUCHASIA
Director, Amrit Group