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India's Kitex Garments receives invitation for investment in Sri Lanka
27 Jul 21 1 min read
Kerala-based Kitex Garments recently received an invitation to invest in Sri Lanka from the island nation’s deputy high commissioner to Chennai D Venkateshwaran, who assured Kitex managing director Sabu Jacob of ‘complete cooperation’ from Colombo, according to reports from south India.
The company, however, is yet to take a decision on whether it would venture into the southern neighbour.
Kitex recently announced it would invest ₹1,000 crore in Telangana.
Earlier, Bangladesh and several Gulf countries had offered the group incentives for investment after it scrapped a ₹3,500-crore investment plan in Kerala.
The company, however, is yet to take a decision on whether it would venture into the southern neighbour.
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Kitex recently announced it would invest ₹1,000 crore in Telangana.
Earlier, Bangladesh and several Gulf countries had offered the group incentives for investment after it scrapped a ₹3,500-crore investment plan in Kerala.
Fibre2Fashion News Desk (DS)
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