The textile sector in Punjab has received a major investment boost with Ganga Acrowools Limited, a manufacturer and exporter of yarns, announcing an expansion project worth around Rs. 750 crore (US $ 81.85 million).
The announcement was made by Punjab’s Minister of Industry & Commerce, Sanjeev Arora, who said the expansion would strengthen the state’s industrial ecosystem and reinforce its position as a preferred destination for investors. The investment is expected to generate more than 1,500 additional jobs, adding to the company’s existing workforce of over 5,600 employees.
Arora stated that the project demonstrates the success of the Punjab government’s efforts to attract both domestic and global investment by creating a favourable business environment and improving ease of doing business in the state. He noted that the expansion would also stimulate the local MSME ecosystem and ancillary industries linked to the textile value chain.
A significant component of the investment includes a Rs. 53-crore (US $ 5.78 million) biomass-based boiler and turbine system designed to utilise agricultural waste as fuel. According to the minister, the facility will consume around 1,20,000 tonnes of paddy stubble annually, helping reduce stubble burning in an area within a 20–25 kilometre radius while powering textile manufacturing operations.
Amit Thapar, President Ganga Acrowools Limited, said the company had originally announced an investment of Rs. 301 crore (US $ 32.85 million) but later revised the plan upward to Rs. 750 crore (US $ 81.85 million) due to the state’s supportive policy environment and measures aimed at reducing the cost of doing business. He added that about Rs. 400 crore (US $ 43.65 million) had already been invested, with the remaining funds to be deployed over the next 24 months.
The new facilities will focus on producing specialised yarns used in knitting, weaving, carpets and technical textiles, further strengthening Punjab’s role in global textile manufacturing and exports.
Industry observers say the expansion is expected to create wider economic benefits for the region by supporting value chains, small suppliers and related industries. Officials also view the investment as a strong endorsement of Punjab’s industrial policies and its capacity to attract long-term investments in high-value manufacturing sectors.
