Raymond Group, one of India’s leading branded fabric and fashion retailers, has been given the go-ahead from the Maharashtra’s Chief Minister Devendra Fadnavis to build a Textile Park in the state. The offer letter allocates 500 acres of land to Raymond Group for setting up Rs. 1,500-crore textile unit in Vidarbha.
The letter was given to Raymond Group Chairman and Managing Director Gautam Singhania in the CMO at Vidhan Bhawan where the winter session of the state legislature is underway. Gautam Singhania, Raymond Group Chairman and Managing Director, accompanied by a team of company officials were present in the visitor’s gallery of the Vidhan Bhawan when the CM made the announcement. The upcoming unit will generate about 7,500 employment opportunities, Fadnavis added.
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Likewise, the State Government has allocated 102 hectares of land collectively to Shyam Indofab Ltd., VHM Industries, Suryalaxmi Cotton Mills, and Siyaram Silk Mill where a total investment to the tune of Rs. 1,500 crore is expected. On the collective allocation, Fadnavis stated, “These units will employ about 5200 people. Shyam Indofab has already started production.”
The CM said the Government has decided to set up textile parks in the cotton belt of Vidarbha, Marathwada, and north Maharashtra with State Industrial Development Corporation (MIDC). Besides, the textile parks will come up at Yavatmal, Chikhli (Buldana), Jamner (Jalgaon), Kannad (Aurangabad), Selu (Parbhani), Bhaler (Nandurbar), Malegaon (Nashik), Krishnur (Nanded) and Majalgaon (Beed).
