Home Retail Arvind Ltd to set up denim plant in B’desh

    Arvind Ltd to set up denim plant in B’desh

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    , one of the largest integrated textile, apparel and branded apparel companies, is expanding its denim manufacturing capacity to 140 million metres by setting up a plant in Bangladesh.

    Arvind Ltd focusing on multipronged strategy for growth
    In the world market, Indian textiles industry is competing with Bangladesh, Sri Lanka and Pakistan

    In a with Nitol Group of Bangladesh, Arvind Ltd will set up 30 million metres of denim manufacturing capacity over a period of three years, with a total investment of about $25 million.

    Commenting on the development, , director and CEO, Arvind Ltd, said, “We look at Bangladesh as a strategic location in terms of the unique advantages it offers. Garments exported from Bangladesh do not attract any import duty, if the fabric is manufactured in the country itself.”

    Bangladesh is among the fastest-growing garment markets in the world. With low cost of labour and high productivity, it is expected to continue its growth momentum. Demand for in Bangladesh is growing at over 25 per cent per annum and is currently at 280 million metres.

    Nitol Group, which has a turnover of $100 million, will have a 20 per cent stake in the JV. Nitol Group already has a JV with and .

    – IndiaRetailing Bureau