The developments underscore growing tensions within Surat’s textile ecosystem, as both manufacturers and weavers grapple with shrinking margins, rising input costs and persistent liquidity pressures.
Manufacturing News
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The announcement had generated expectations of an employment-oriented textile and apparel cluster in Bolangir, a district often described as migration-prone and industrially underdeveloped.
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The purchase has taken their combined stake in the textile manufacturer to 5.04%, exceeding the disclosure threshold set out under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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The performance indicates stable margin management and operational efficiency amid a competitive apparel manufacturing environment.
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The proposed textile park is expected to generate employment for nearly 1,200 people, with a substantial proportion of the jobs likely to benefit women.
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The company’s improved profit in the nine-month period was attributed to enhanced operational efficiency and better margin management, according to its filing.
