Arvind Limited, an India textile major engaged in the manufacturing of cotton shirting, denim, knits and bottomweight fabrics, is expecting INR 12,000 crore in revenue in the next five years from its textile business.
The textile company is mulling over investing Rs. 2,500 crore in the textile business in the years (5) to come, to double its earnings.
Arvind’s Executive Director Kulin Lalbhai told a leading media house that the company hasn’t invested much in the recent past in its textile business. He is optimistic that the investment would allow the company to witness double-digit growth over years.
The textile manufacturing company is also looking to ramp up its garment business (making garments from fabrics) from current 10 per cent to 50 per cent over years. A major portion from the planned investment will go into garmenting.
Further to make its plans work on ground-level as well, Arvind has inked MoUs with state governments of Jharkhand, Andhra Pradesh and Gujarat, to set up garment manufacturing facilities there, employing around 8,000 workers.
The company eyes to start manufacturing in Jharkhand and Gujarat by fourth quarter this year.
Future plans to venture into active wear, synthetics and technical textiles are also on cards.