Business

GHCL to expand textile capacities in Tamil Nadu


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.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button