Gokaldas Exports to set up apparel units in Chittoor

31 Jan '17

1 min read

Courtesy: Gokaldas Exports

Gokaldas Exports, the largest manufacturer and exporter of apparel in India with an annual turnover of $200 million, will set up apparel manufacturing units in Chittoot district of Andhra Pradesh. The company will set up four units over the next three years involving an investment of approximately up to Rs 200 crore. This will create about 5,000 new jobs.

“The company has entered into a memorandum of understanding (MoU) with Government of Andhra Pradesh on January 27, 2017, for setting up of 4 apparel manufacturing units over a period of next 3 years in Chittoor district involving an investment of approximately up to Rs 200 crore which is likely to generate approximately 5,000 new jobs,” Gokaldas Exports said in a statement filed with the Bombay Stock Exchange.

“The said investment is however subject to such terms and conditions as requested and sought by the company including appropriate infrastructural support and relevant incentives and subsidies being made available to the company with the Government of Andhra Pradesh,” the filing said.

Currently, Gokaldas Exports employs nearly 25,000 people across its 23 manufacturing units. It manufactures and exports men’s, women’s and kids’ apparel and outerwear. (RKS)

Fibre2Fashion News Desk – India

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