Home / Knowledge / News / Textiles / Big & small textile investors line up at Vibrant Gujarat Summit
Big & small textile investors line up at Vibrant Gujarat Summit
20
Jan '11
The textile industry in Gujarat attracted investments from the big and the small at the Vibrant Gujarat Summit held in Gandhinagar – Gujarat. From textile biggies like SKumars Nationwide and Nagreeka Exports to even small investors like cotton ginners who aspire to climb up the cotton value chain, by investing in small spinning units.

The Gujarat textile sector attracted investments amounting to around Rs 252 billion. In all 139 MoUs were inked at the 2011 summit. All this in turn is expected to create employment opportunities for around 140,448 people. The major portions of the investments were made in the spinning sector, followed by technical textiles and rest was accounted for by textile parks, fabric processing and apparel sector.

Fibre2fashion spoke exclusively to a few senior honchos from the textile and cotton ginning sector who had signed MoUs at the Vibrant Gujarat Summit. Among them was Mr Sunil Patwari, Managing Director – Nagreeka Exports. Nagreeka is one of the big ticket textile investors at the summit which is investing in excess of Rs 10 billion. Informing about its investments, Mr Patwari said, “We are setting up a 300,000 spindles spinning plant in North Gujarat at an investment of about Rs 12 billion and we are in the process of identifying and acquiring the land for the project”.

Giving details to fibre2fashion, Mr Anupam Dikshit – COO (Projects) at S Kumars Nationwide Ltd. said, “We are setting up a spinning and weaving plant to produce cotton, poly-viscose at Jhagadia near Bharuch, where we already have a cotton weaving plant at the same location in which we have invested around Rs 5 billion. The new investment envisaged is between Rs 4.5-5.0 billion and the plant will be up and running by end of 2011”.

Next we spoke to Mr Narendra Agarwal, Director of Mumbai based RBA Textiles Pvt Ltd. RBA Textiles operates a 56,000 spindles spinning unit in Andhra Pradesh and is also a manufacturer and exporter of garments. He said, “We are planning to set up a 200,000 spindle spinning mill in two phases at an investment of around Rs 5.5 billion. The location is yet to be finalized but we hope to start in the next 2-3 years”. Speaking about the summit he said that he was grateful to the Government of Gujarat to enable all to gather on a common platform and provide investment opportunities without any hassles.

It is the dream of every cotton ginner to venture in to spinning of yarn to add value to the cotton that he gins. One of them is Jitendrabhai Patel of Patidar Industries Pvt Ltd from Babra in Amreli District of Gujarat. Mr Patel is the proud owner of three ginning plants. Updating fibre2fashion on his plans he revealed, “I am setting up a 12,000 spindles plant in Babra to produce cotton yarn. We have a big and ready yarn market in and around Ahmedabad, so we do not foresee any marketing challenges”.

Another very enterprising entrepreneur fibre2fashion spoke to was the Ahmedabad based, Mr Hemant Goenka – Director, GIT Textiles Manufacturing Ltd. Mr Goenka signed the MoU to set up his weaving plant in the fourth edition of the Vibrant Gujarat Summit in 2009 and is now back with plans for backward integration at this years summit. Giving details he said, “We are doubling our weaving capacity and also going in to backward integration and setting up warping and sizing plants, other than which we have a couple of plans on the drawing board”.


Must ReadView All

Union Minister for finance Arun Jaitley chairing the 25th GST Council meeting, flanked by minister of state for finance Shiv Pratap Shukla (right) and finance secretary Dr Hasmukh Adhia. Courtesy: PIB

Textiles | On 20th Jan 2018

GST rate on velvet fabric reduced to 5%

The 25th Goods and Services Tax (GST) Council meeting, held under the ...

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search