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Apparel company Kitex Garments to invest ₹1K cr in Telangana, India

06
Sep '21
Pic: Kitex Garments/Linkedin
Pic: Kitex Garments/Linkedin
The Telangana state has approved the expansion plan of Indian kids apparel maker Kitex Garments, the firm recently informed exchanges. It plans to invest ₹1,000 crore in the state and expects its capacity to double in two years. Its chairman Sabu M Jacob had shifted interest to Telangana after alleging harassment at the hands of the Kerala government.

Kitex Garments cited ease of doing business, utilisation of better logistics and infrastructural facilities, incentive and subsidy schemes from the government, proximity to raw material sources and reduced cost of labour as some of the reasons behind its investment plan.

"The state of Telangana ranks among highest in ease of doing business and is an ideal destination for apparel manufacturing as it is one of the largest producers of cotton in India, has sufficient infrastructure facilities, investor friendly state policy, thereby very conductive for industrial growth. With liberal government policy, availability of raw material and various incentives offered by the state, the company expects to reduce its operating cost, shorten payback period and drive profits," Kitex Garments had said in a press release in July.

Fibre2Fashion News Desk (DS)


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