01 March 2022, Mumbai:
More textile and clothing firms are going to invest in Madhya Pradesh, according to the Madhya Pradesh Industrial Development Corporation (MPIDC), which has received requests for 800 acres in Indore from textile companies.
Leading clothing exporters such as Best Corporation, Pratibha Syntex, and textile behemoth Vardhman Textiles have recently expressed interest in investing in the state.
According to state officials, one existing textile company with a presence in Pithampur and three new integrated textile industry players have seen land and filed plans for around 800 acres.
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"Textile businesses have shown a positive interest in establishing operations in the region. "We have bids from four textile businesses requesting roughly 800 acres in various pockets to establish facilities," Rohan Saxena, ED, MPIDC, Indore, said. He has not, however, revealed the identities of the firms.
According to Rohan, one of the current textile businesses plans to buy 400 acres in Badnawar, for which the MPIDC regional office has submitted a request to the central office for permission. Other businesses have noticed property lots in Ratlam's investment district.
According to the MPIDC, Indore, over 50 textile and garment firms have paid 25% of the total premium cost to set up factories in the Indore region in the recent year. The total investment from these businesses is anticipated to be Rs. 1,560 crore.
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BGMEA Vice President Miran Ali and Directors Asif Ashraf, Tanvir Ahmed and Abdullah Hil Rakib were also present on the occasion.
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