Six companies of Noida will have massive investment in Odisha

Six leading apparel companies from Noida and one from Bangalore will invest a significant amount in Odisha’s apparel & garment cluster, Khurda.

A conducive business environment, a stable Government, swift approvals, labour availability and seamless land allotment process are a few of the reasons that attracted these companies.

The total project cost amounts to Rs. 379 crore, with the potential to generate employment for 18,620 individuals, signifying a significant step towards realising the full potential of the apparel and textiles sector in Odisha. In an event, Industries Minister Pratap Kesari Deb presented approval letters the companies.

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As per reports, Anil Peshawari, CMD of Noida-based Meenu Creations, is representing the group of 6 companies instrumental for this initiative. Last year a delegation of these factories also had a meeting with Odisha’s Chief Minister Naveen Patnaik and discussed the investment prospects.

The factories are expected to start their production in Odisha by the end of this year or early next year and almost 70 to 80 per cent of the workers in these factories will be local women and will be receiving skill development training.

“Some of the capacities of Noida may shift there but our main thrust will be to add new product categories like quilted jackets, heavy weight bottom and denim etc. as we have enough land, subsidies and ecosystem in Odisha. This diversification will help factories to fetch such orders those are currently going majorly to Bangladesh, Vietnam and China,” says Anil talking to ApparelResources.com.

He further added that once these 6 factories of Noida will have successful operation in Odisha, it will motivate to other factories of this region to explore Odisha.

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“Export houses with the turnover of Rs. 500 crore or more can explore states like Odisha and other but as major factories of Noida and Uttar Pradesh are in SME segment, exploring other states are not viable for them,” Said Lalit  Thukral, President, Noida Apparel Export Cluster, and Convener (RMG, UP Export Promotion Council).

He also added, “Subsidies and other positive aspects like stable Government ecosystem in Uttar Pradesh are not less than any other state. At the same time work for PM MITRA Park is also in full swing, emerging hubs like Gorakhpur do have an interesting option for new factories. Across the state, with growing thrust on infrastructure there is strong connectivity so I urge to fellow exporters to rethink their decision to go out of Uttar Pradesh.”

Details of companies and their expected invest, employment generation