Latest news with #Kitex
Hans India
2 days ago
- Business
- Hans India
Textile giant Kitex Garments shows interest in investing in AP
Amaravati: Kitex Garments, a global leader in the textile sector, has expressed keen interest in investing in Andhra Pradesh, announced Minister for Handlooms and Textiles S Savitha. She revealed that the company's management is scheduled to meet with Chief Minister Chandrababu Naidu soon. Minister Savitha visited the Kitex Garments headquarters in Kochi, Kerala, on Saturday. She inspected the apparel manufacturing process and interacted with employees. Later, at a press conference held jointly with Kitex Garments Chairman Sabu Jacob, Minister Savitha highlighted that Andhra Pradesh has become a haven for investments since Chief Minister Chandrababu Naidu assumed office. Minister Savitha indicated that Satya Sai district is being considered as a priority location for the Kitex Garments unit. She highlighted the district's proximity to Bengaluru airport, Krishnapatnam Port and railway connectivity, which would greatly facilitate product exports. She also pointed out that Kurnool district, known for its high cotton production, could serve as a readily available source for Kitex Garments' raw material needs. Minister Savitha expressed satisfaction with Kitex Garments' operations, commending their business management based on ethical values rather than solely profit. She lauded Kitex management for treating its 15,000 employees like family members. She noted that Kitex is the largest employer in Kerala's textile sector and has earned a global reputation as one of the largest apparel manufacturing companies in the world. Recently, Kitex invested Rs 3,600 crore in Telangana, Minister Savitha revealed. Expressing delight over Kitex's interest in investing in Andhra Pradesh, Minister Savitha extended her gratitude. She assured that a meeting with Chief Minister Chandrababu Naidu would be arranged soon, where Kitex management is expected to present their investment plans. Earlier, Minister Savitha toured all departments at the Kitex Garments headquarters. She was accompanied by the company's MD Sabu Jacob and other staff members.
The Hindu
2 days ago
- Business
- The Hindu
Andhra Pradesh Government invites Kitex Garments to invest in State's textile sector
A delegation from Andhra Pradesh government led by S. Savitha, Minister of Handlooms & Textiles, visited Kitex Group Garments' headquarters at Kizhakkambalam near here on Saturday (June 7, 2025). Ms. Savitha, in a press meet soon after the visit, invited the Kitex Group to invest in Andhra Pradesh and lead the textile sector's expansion in the State. Sabu M. Jacob, chairman and managing director of Kitex Garments, received the delegation. I have come as per the instruction of the Chief Minister of Andhra Pradesh, Chandrababu Naidu. Andhra Pradesh offers robust textile infrastructure with dedicated parks, integrated apparel clusters, abundant land and labour, cotton availability, and excellent port and road connectivity. Through its current expansion in Telangana, Kitex is becoming the number one player in the apparel segment. That is why I am here to invite Kitex to invest in Andhra Pradesh and lead the textile sector's expansion in the state, she said. 'Andhra Pradesh is ushering in several forward-looking developments in the textile sector. To be part of this growth story, we are inviting globally acclaimed companies with a proven track record—like Kitex—to invest in the state. Our vision is to create large-scale employment and build Andhra Pradesh into a global textile hub. We will update on further developments after a direct meeting with the Chief Minister,' Ms. Savitha said. If the investment proposal materialises, it will be the company's second biggest investment outside Kerala after Telangana. The Kitex Group has invested ₹3,600 crores in its expansion in Telangana, providing employment to over 50,000 people and expected to consume 15% of Telangana's cotton production, a statement issued by the company here said. The Kochi-based company has invested in two units — one near Hyderabad and another in Warangal - in Telengana. They are expected to be fully commissioned later this year. The Telangana plants would produce 24 lakh units per day, while the KITEX Kizhakkambalam unit near Kochi would produce 11 lakh units a day. The unit near here had around 9,000 people working in production units, down from the earlier 11,000. The company had invested around ₹1,000 crore in the unit here over the last 30 years. KITEX had not made any fresh investments in Kerala over the last 10 years, Mr. Jacob had said while announcing the progress of his investments in Telangana earlier this year. Mr. Jacob had a showdown with the Kerala Government following which he switched his investment destination to Telangana a few years back.
New Indian Express
3 days ago
- Business
- New Indian Express
Andhra Pradesh to woo Kitex Garments for investment after Telangana
KOCHI: Four years after diverting a mega investment plan from Kerala to Telangana, Kitex Garments is set to receive an invitation from another state. The Andhra Pradesh government has deputed a minister to visit Kitex managing director Sabu Jacob, in an attempt to woo him to invest in the state. Andhra Pradesh Textiles Minister S Savitha will arrive in Kochi on Saturday to visit the headquarters of Kitex Garments – the second largest producer of children's garments in the world – in Kizhakkambalam. According to reports, the minister will hand over an invitation from Andhra Pradesh Chief Minister Chandrababu Naidu to Sabu, inviting him to Amaravati for a personal meeting. 'Currently, we don't have any plan for industrial investment in Andhra Pradesh. But it seems the chief minister is very keen to attract investment to Andhra Pradesh. Let's see what message the minister brings,' said Sabu. Kitex Garments had presented a Rs 3,500-crore investment proposal at the Ascend Global Investment Meet organised by the Kerala government in 2020. However, Sabu withdrew from the project following alleged harassment by the state government.
Fashion Network
30-04-2025
- Business
- Fashion Network
Kitex Garments eyes Rs 5,000 crore revenue, expects to benefit from US tariffs
Kitex Garments is aiming to achieve Rs 1,000 crore in revenue during 2025 and has projected a long-term revenue target of Rs 5,000 crore once its textile plants in Telangana reach full operational capacity. The company expects to benefit from recent US tariff changes on textile imports. The US administration under Donald Trump recently imposed steep tariffs on key textile exporters. While India faces around a 26% levy, Bangladesh and China have been hit with significantly higher tariffs, 37% and nearly 140% respectively, giving Indian exporters a relative advantage in the US market. 'I think we'll have a deal with India,' announced US president Donald Trump to reporters outside the White House, CNBC reported on April 29. Kitex stated that these developments, combined with political uncertainty in Bangladesh, may shift global sourcing patterns in favour of India, Apparel Resources India reported. The company is positioning itself to cater to increased demand from US buyers seeking lower-tariff alternatives. With an ongoing investment of Rs 3,550 crore in expanding its manufacturing infrastructure, Kitex believes it is well placed to capitalise on this shift. The company highlighted that it can maintain profit margins while offering competitive pricing compared to major global competitors. Kitex aims to fulfil 1% of total US textile garment demand, which it views as a significant export opportunity. The company expects this strategic focus to contribute meaningfully to India's growing presence in global textile trade.
