India-based Textile conglomerate Arvind Ltd. has made Rs. 350 crores investment in Gujarat in a bid to create a manufacturing hub with three garment facilities, expected to take the company’s business to Rs. 1,000 crores.
Two of the three facilities are already running, which were inaugurated by Gujarat Chief Minister, Vijay Rupani. While the third one is expected to begin its operations in the coming time. The manufacturing capacity of the company is expected to go up to 3 million garments per month.
Notably, once these operations reach optimal capacity, these facilities are expected to provide job opportunities to around 12,000 people.
Sanjay Lalbhai, Chairman & MD, Arvind cited that these manufacturing facilities, set up with an investment of Rs 350 crore, will further boost the company’s position in the international textiles and apparel market as an integrated fibre-to-fashion provider and solutions provider to global retailers and brands.
Furthermore, Arvind also aims to invest Rs. 500 crores on annual basis for the next 4 to 5 years, as the textile conglomerate looks to generate a revenue of 12,000 crores from its textile business. At present only 10 per cent of the total fabrics manufactured is turned into apparel. However, it aims to convert 50 per cent in the next five years.
The Chairman also marked out that these new facilities will also help the brand to foray into different categories such as activewear and synthetics. Apart from Gujarat, the company also eyes to open large apparel hubs in Jharkhand and Andhra Pradesh.
“We employ more than 45,000 workers in our units and our aim is to more than double the numbers, as all these hubs become operational,” Lalbhai added.