One of the most renowned fancy yarns makers in India, Mumbai-based Damodar Industries Limited, is planning to expand its capacity by setting up another manufacturing unit in Bangladesh.
It is being claimed to be the first-ever Indian spinning mill in Bangladesh. The mill is slated to be set up in Sylhet, which will initially start functioning with 50,000 spindles. It is expected to be operational by the end of this year.
Currently, producing 100 tonnes of yarn every day, the company has 100,000 spindles in India. Another unit, with 25,000 spindles, is already in operation in India.
S C Tandon, CEO, Knits Division Damodar Industries Limited, told Apparel Resources, “We are getting repeat orders, and the customers seem quite content with the product variety and quality we are providing. We have been very consistent in product development. In every quarter, we come up with a new range of yarns. This is further increasing our customer base, which makes us even more confident that we’ll be able to cope up with increasing demand.” He further added that the company has been successful in Bangladesh from last 4-5 years.
The company targets to export 2,000 tonnes of yarn to Bangladesh each year for the next three years from its current annual export of 500 tonnes. Strength of the Damodar Industries Limited is fancy yarns like injection yarns, nap yarns and slub yarns.
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Damodar Industries Limited has three divisions — home furnishing, knitting and weaving.
According to Tandon, there is tremendous growth in knitting. “Our focus is more on knitting, and we hope to further multiply our sales,” he said, and added that the Bangladesh market is opening to blends, though slowly.
The company is expanding, both horizontally and vertically. Two years ago, it started its own shirt and suit division. It is now growing further in the domestic market and has plans to export too. Previously, it was focusing solely on yarn. But now, they are into fabrics as well.
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