India’s retail giant Future Group is planning to establish a garment manufacturing unit in Telangana and talks in this regard have been initiated by the Group, informed its CEO Kishore Biyani, who was in Hyderabad recently for some official work.
“We are considering getting into garment business in the city as we want to have a textile mill in each of our centres,” Biyani was quoted as saying in media reports.
The Group is eyeing to increase its business from the current Rs. 2,500 crores to Rs. 4,500 crores from the Hyderabad market by the end of fiscal 2018-19. It also aims to note a threefold surge in its revenues from Rs. 30,000 crores in this fiscal to Rs. 1 lakh crores by the year 2021.
However, the company did not disclose any details if any development of the proposal has taken place. Also, there’s no information if the proposed unit would be housed at the upcoming 2,000-acre mega textile park in Warangal. The textile park will be set up at a cost of Rs. 11,000 crores under a public-private partnership. It is touted to be the biggest ‘fibre to fabric’ (end-to-end) facility in the country.
Recently, the Future Group announced that it would set up a garment manufacturing facility in West Bengal apart from increasing its retail store network in the state this year. The unit is expected to create 10,000 new jobs in the region. Further details on the project are yet to be unveiled.
