TN Catches Up With Gujarat In Attracting Textile Investors

Market Intelligence

TN Catches Up With Gujarat In Attracting Textile Investors

From April-August 2019, 90 Industrial Entrepreneurs' Memoranda (IEMs), related to textile and clothing investments, were filed with the Department of Industrial Policy & Promotion (DIPP), compared to 119 IEMs filed during the same period of 2018. Of the 90 proposals, 34 were related to yarn manufacturing (both cotton and MMF), weaving sector attracted 15 proposals, 14 proposals were related to the RMG sector, nine proposals were for textile processing, seven were for technical textiles , six for knitted fabrics, and four for home textiles. In terms of capacity additions, the IEMs have proposed yarn manufacturing of 3.50 billion tons, fabric (both woven and knit) production of 66.87 billion meters, textile processing capacities of 155.91 billion meters, and RMG of 670 billion pieces. Tamil Nadu, Gujarat compete to attract investors Tamil Nadu, which has been trailing in textile investments, has now caught up with Gujarat. Both states have received 21 proposals each. Maharashtra received eight proposals, and Madhya Pradesh received six proposals. Despite the attractive textile and industrial policy, Karnataka received just four proposals during April-August. Other states including Rajasthan, Haryana, Andhra Pradesh, Uttar Pradesh, Telangana, West Bengal, Jharkhand, Orissa received between one to three proposals. Some leading investors who filed IEMs Some leading investors in the yarn manufacturing sector include Indian Oil Corporation, Indorama Industries, Shekhawati Geotech, Arvind Dyeing & Bleaching, Vedha Spinning Mills, Filatex India Ltd, Sudhan Spinning Mills. In weaving, some of the investors include BMD Pvt Ltd, Shakti Polyweave, Siyaram Silk Mills, Shri Velayudhaswamy Spinning Mills, Balar Synthetics, among others. In processing, some of the IEMs are from Shri Narayan Fabrics, Parshwa Texprint, Panorama Print (digital printing),Ichalkaranji Powerloom Mega Cluster. RMG IEMs are from companies such as SP Apparels, Page Industries, Shriniwas Polyfabrics, etc.