Arvind Ltd in talks with Dutch firm DyeCoo to introduce sustainable technology
Textile major Arvind Ltd is in talks with Dutch firm DyeCoo to introduce their carbon dioxide-dyeing technology at its manufacturing plants across India.
Arvind is looking to adopt sustainable technology in the production of textiles at its manufacturing units and is currently evaluating the financial viability for the same.
If the talks go through Arvind will become the first company in India to introduce sustainable technology in the manufacturing of textiles in India.
“Sustainability is the way ahead; just that we have to see how much financial sense it makes sense,” Sanjay Lalbhai, Arvind Ltd, managing director told the Economic Times.
Arvind is in the process of ramping up textile production across its manufacturing units as it plans to double its textile business from Rs 6,000 crore ($842.7 million) to Rs 12,000 crore in the next five years.
The company has earmarked an investment of Rs 500 crore every year for the next five years to expand its textile business.
DyeCoo is looking to partner with leading textile firms to make inroads in the Indian textile market. The company is currently showcasing at the Vibrant Gujarat 2019 summit.
DyeCoo Asia MD Kasper Nossentn said, “The company is keen to forge alliances with the likes of Arvind Ltd, Welspun Group, Raymond and Reliance India Ltd for the adoption of sustainable technology in textiles. This eliminates the need for water and chemical dyes and is environmental free. If talks with Arvind Ltd succeed, it will be the first Indian company to introduce the technology in India.”
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