Big & small textile investors line up at Vibrant Gujarat Summit

20 Jan '11

7 min read

Sharing his experiences on the Vibrant Gujarat Summit he said, “We are basically from Kolkata and have been given a very good opportunity in Gujarat. We had signed a MoU in 2009 for the existing plant. This year we have signed another MoU and also plan to come back in the summit to be held in 2013 with other expansion plans. In the first MoU signed in 2009, we had invested Rs 400 million and this time we are investing Rs 2.18 billion”, he wrapped up by saying.

ToolAsian International is a textile company started way back in 1982 and managed by Mr RK Agarwal and is currently in to production of PP woven fabrics and sacks and his mentor and from where he received training is “The Centre for Entrepreneurship Development' (CED) headed by none other than Dr Chandan Chatterjee and to whom he is very grateful for the strides he has made in his business.

Speaking about their investment plans was his energetic and US educated son, Mr Ashutosh Agarwal who said, “We plan to venture in to nonwoven geo-textiles, so we are here for guidance and help that the CED and the government of Gujarat can provide to us. We have already done a lot of ground work and found that there is no indigenous technology available; however the markets for geo-textiles look promising”.

Mr Niraj Poddar from Surat was interested in setting up integrated Textile Parks in and around Surat. He hails from a family which has interests in fabric processing, chemicals and construction. He told fibre2fashion that they were planning to set up two Textile Parks in the South Gujarat belt. He further revealed that the location has not been finalized yet as it depended on the availability of the land in the region. However he hopes to finalise everything within the next few weeks.

When asked, as to why they though about setting up Textile Parks, he replied by saying, “I have visited many Textile Parks in India and most of them are located near about big towns and cities, but I plan to set up the Parks in rural areas and 'reurbanise' these areas and generate employment in rural areas”.

Mr KP Bhat from Krishna Mills – Bangalore was at the Vibrant Gujarat Summit to explore opportunities to invest in technical textiles. Krishna Mills supplies around two million meters of fabrics per month to garment exporters. After meeting top officials of iNDEXTb and CED he was completely satisfied with the information he received from them.

Mr JK Panchal Director – Shakti Spintex Ltd by and large is one of the biggest investors in the textile sector at the summit. He is investing Rs 20 billion to set up a composite unit compromising of a 200,000 spindles spinning unit, open-end machines, denim plant, 400 air-jet looms, fabric processing unit and a garment manufacturing plant at Mandal in Surendranagar district. Shakti Spintex was set up way back in 1913 and is into manufacturing of machinery, production of fabrics and garments.

He informed further that they would produce 80 tons of yarn per day, out of which 50 percent will be earmarked for exports, 25 percent will be sold in domestic markets and the rest will be consumed in-house. They will also be producing 200,000 meters of fabrics per day, again out of which 50 percent will be consumed by them and rest will be sold in the local markets.

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