Arvind Ltd to set up Rs 400 crore manufacturing unit in Jharkhand
India’s leading textile manufacturer Arvind Ltd will invest Rs 400 crore (approx $61.5 million) in the state of Jharkhand to set up a manufacturing unit which is expected to create employment opportunities for around 10000 youths, said a top company official.
Arvind Ltd Promoter Kulin Lalbhai has recently signed an agreement with Jharkhand Chief Minister Raghubar Das regarding the same.
The work on the manufacturing unit is likely to be completed by November this year thereby creating jobs for approximately 10,000 youths especially women from the lower strata of the society.
Arvind Ltd Promoter Kulin Lalbhai in a statement said that youth will be trained and given jobs by the largest fabric maker mill of the nation. He also appreciated the Government's policy on textile and industry.
Arvind Limited had signed a similar agreement with the Gujarat Government earlier in the month to set up an Rs 300 crore (approx $46.1 million) apparel manufacturing unit in Dahegam, Gujarat with a plan to create another 10000 jobs.
The company posted strong results last quarter with Rs 96.92 crore (approx $15 million) profits and total income of Rs 2,493.19 crore (approx $384 million).
The Ahmedabad-based company has a portfolio of owned and licensed brands. Its own brands include Flying Machine, among others, while its licensed product brands include Tommy Hilfiger, Calvin Klein, Arrow, Gant, Nautica, Gap, and Aeropostale.
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