India’s leading apparel exporter Pratibha Syntex is going for massive expansion as the company is investing around Rs.110 crores.
All planning has been finalized in this regard. On another side, this project is waiting for creating around 4,000 jobs.
Nitin Seth, COO of the company told, “We are looking at a mix of increasing business with existing buyers and adding new customers to fill our new units.”
The capacity build-up will start by January 2022 and full capacity build-up will happen by end of 2022. We are going to install 750 working sewing machines along with the required training set-up, he added that.
While a few more states are offering lucrative options to attract investment in garment manufacturing, the company has decided to invest in MP.
Because the MP knows this state and its work culture. At the same time, the management has indulged in the confidence to do well in its familiar field.
The most important thing here is that as a long-term loan from The Good Fashion Fund, the company has received the support of about US $ 4.5 million (approximately Rs. 33.75 crores)
These funds will support the planned capital expenditure of the Pratibha Syntex for the replacement of sustainable equipment and the expansion of sustainable equipment in their spinning, processing, and garmenting departments.
As well as providing new equipment will help expand their activities and facilities.