MAS Holdings to set up $140 million state-of-art apparel park in India
04 March 2025, Mumbai
Sri Lankan apparel manufacturer, MAS Holdings plans to set up a state-of-the-art apparel park in India with an investment of $140 million.
To be established on 60 acre in Bhinpur, Khurda district in Odisha, the park is likely to commence operations in 2026. It will function as an integrated manufacturing hub. The development of this park highlights MAS Holdings’ confidence in India’s apparel and textile sector. The country’s manufacturing landscape supports both global supply chains and the rapidly growing domestic retail market, states Suren Fernando, Group CEO, MAS Holdings.
A specialist in performance apparel and undergaremnts, MAS Holdings partners with prominent brands like Victoria’s Secret, Nike, Lululemon, Speedo and Lacoste. The company has intensified its sustainability initiatives including scaling of the regenerated polyester product, Cycora in partnership with Ambercycle. The company aims to generate 50 per cent of its revenue form sustainable products this year.
MAS Holdings' investment aligns with the robust growth of India's textile and apparel industry. Valued at $222.08 billion in 2024, India’s textile and apparel market is projected to reach $646.96 billion by 2033, as per an IMARC Group report. The market will grow at an 11.98 per cent CAGR from 2025-2033.
