Arvind has received a ₹10-crore grant from ACT Grants, a non-profit coalition of venture capital funds and start-up founders, to use its expertise on medical products and working capital to create a facility for N95 mask production and distribution and produce 3 crore such masks in 12 months, , the textile-to-retail conglomerate recently announced.
Through this partnership, Arvind and ACT Grants will jointly donate 90 lakh masks over the next year to charitable institutions, government bodies and other organisations, focusing on medical and non-medical professionals with the highest risk of contracting the virus.Arvind has received a ₹10-crore grant from ACT Grants, a non-profit coalition of venture capital funds and start-up founders, to use its expertise on medical products and working capital to create a facility for N95 mask production and distribution and produce 3 crore such masks in 12 months, the textile-to-retail conglomerate recently announced.#
Upon complete scale-up, the daily N95 mask production capacity will be approximately 2 lakh units, which would be operated, owned and managed by Arvind, the company said in a statement.
Arvind, which also manufactures protective coveralls and bio-suits for medical practitioners and frontline warriors, has supplied more than 1 lakh coveralls so far to the central and state governments.
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