Firm may invest ₹150-₹200 cr. in FY22
GHCL, which has two textile mills in Tamil Nadu, plans to invest ₹150-₹200 crore in the State in FY22
R.S. Jalan, MD, told The Hindu that the company ‘has aggressive plans for expansion and a team is working on them.’
The company will look at expanding capacities at its yarn production facilities near Madurai and Tiruchirapalli and also in solar power.
“We are looking at putting up weaving infrastructure, too,” he said. The company makes cotton and synthetic yarn in the mills.
The textiles business had been doing well in the third and fourth quarters of this fiscal and was expected to continue the performance. GHCL exports home textiles and yarn. Mr. Jalan said India had grown in the textiles segment in terms of exports.
The levy of import duty on cotton, as announced in the Budget, would affect the growth of textiles exports as several units imported cotton, mainly branded and extra-long staple, to make and export premium textile products, he added.