Arvind launches garmenting facility in Jharkhand
Arvind Ltd Executive Director Kulin Lalbhai said the company is aiming to convert 50 per cent of its fabric into garments over the next five years from the current capacity of 10 per cent .
New Delhi: Textile firm Arvind Ltd Sunday announced the launch of its green-field garmenting facility in Ranchi, set up with an investment of Rs 300 crore.
This facility will add capacity of 16 million garments annually to the company's current garmenting operations and generate additional revenues of Rs 700 crore, it said in a statement.
Jharkhand Chief Minister Raghubar Das, who inaugurated the plant, said the state is poised to become a large garmenting hub. The state government, through the new garment policy, is looking to create 2 lakh jobs and will continue to provide support for all initiatives towards fulfilment of this goal, he added.
Arvind Ltd Executive Director Kulin Lalbhai said the company is aiming to convert 50 per cent of its fabric into garments over the next five years from the current capacity of 10 per cent.
"We believe Jharkhand will play a significant role in achieving this target," he added.
The company has charted out an investment of Rs 500 crore per annum for the next four to five years and aims to double revenue from its textile business to Rs 12,000 crore.
"This launch is part of capacity expansion strategy where Arvind will be developing three large garment clusters in Jharkhand, Gujarat and Andhra Pradesh. Each of these clusters will employ nearly 10,000 workers," the company said.
Arvind currently employs over 45,000 people and once these clusters are fully operational at optimum capacity, the employment numbers are expected to more than double, the company said.