Arvind, a diversified conglomerate with interests ranging from textiles to retail and real estate, will invest ₹500 crore every year for the next five years to expand its textile business.
The investments will be made from its internal accruals and will total ₹2,500 crore by 2023.
“We have a clear plan to invest ₹1,500 crore for the next three years. After that we will continue to invest for another two years. We expect our revenues to go up to ₹12,000 crore by the end of five years from the present ₹6,000 crore,” “The entire textile trade is moving from China to this part of the world.
The investments would be mainly for large-scale garmenting, with the company planning to convert at least 50 per cent of its fabrics into garments.
Source: Business Line
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