More textile and apparel companies are planning to invest in Madhya Pradesh as Madhya Pradesh Industrial Development Corporation (MPIDC) receives demand from textile companies for around 800 acres to set up facilities in Indore.
In recent months, leading apparel exporters, such as Best Corporation, Pratibha Syntex and textile giant Vardhman Textiles, have come forward to invest in the state.
As per state officials, one existing textile unit having presence in Pithampur and three new players into integrated textile business have seen land and submitted proposals for around 800 acres.
A year ago, Apparel Resources had also highlighted that Madhya Pradesh has been attracting investments in textile and apparel industry!
“Textile companies have shown encouraging response in the region to set up facilities. We have proposals from four textile companies demanding around 800 acres in different pockets to set up facilities,” said Rohan Saxena, ED, MPIDC, Indore. However, he has not shared the names of the companies.
According to Rohan, one of the existing textile companies is expected to purchase 400 acres in Badnawar for which the regional office of MPIDC has sent a proposal to the head office to get the approval for land. Other companies have seen land parcels in the investment region in Ratlam.
As per MPIDC, Indore around 50 textile and garment industries have booked land in the Indore region in last one year by paying 25 per cent of the total premium amount to set up factories.The estimated investment from these units is Rs. 1,560 crore.
