Textile giants are not bothered about the challenges post-quota, global market will throw and they plan to invest huge amount of Rs5600 crore in next three years.
Encouraged by sizeable profits and increasing opportunities in market, Mahavir Spinning plans to invest Rs1665 crore in spinning and weaving, while Alok Industries is expected to put in Rs1080 crore.
Raymond Textiles mulls over an investment of Rs250 crore to expand its denim and apparel business. Wellspun is also to inject Rs500 crore for capacity expansion.
NIEL has initiated an expansion plan investing Rs800 crore.
Vardhman Spinning is redesigning its export policy to generate revenue of Rs500 crore. It has already earned Rs450 crore from exports.
RSWM plans to insert significant capacities in its current plants to strengthen its position as market leader in yarn business.
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