Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim capacities.
Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim #
The announcement came just a day after the Punjab government unveiled its new industrial policy embracing a whole range of incentives.
Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim #
Kamal Oswal, Vice Chairman and Managing Director of Nahar Industrial Enterprises said pursuant to their Rs. 15 billion expansion plan, the company would install 200,000 new spindles at its yarn producing units at Malerkotla and Jodhan in Ludhiana and Larlu in Mohali, Business Standard reported.
Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim #
Presently, the company has a total installed capacity of 800,000 spindles.
Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim #
The company also plans to expand its denim production capacity from the existing 20 million meters to 40 million meters per annum. For this, it plans to boost its Ludhiana plants capacity by 20 million meters, Mr. Oswal said.
Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim #
The spinning and denim capacity expansion would take place within next two to three years, he added.
Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim #
Following expansion, the company’s turnover is expected to grow from the existing Rs. 60 billion to Rs. 80-90 billion. The expansion effect would mainly be seen in the topline, Mr. Oswal said.
Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim #
The expansion would be funded through a mix of internal accruals and borrowings, he added.
Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim #
In the new industrial policy pronounced on June 3, Punjab government has assured to offer VAT exemption of 50-80 percent to new producers including those in integrated textile sector.
Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim #
Also, the state government announced total exemption from stamp duty, property tax and electricity duty and 75 percent exemption in Central Sales Tax (CST) for upcoming units and expansion projects.
Nahar Group, a leading Indian textile firm, has announced that it would invest Rs. 15 billion for expansion of its Punjab-based spinning and denim #
Fibre2fashion News Desk - India