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Fibre2Fashion
2 days ago
- Business
- Fibre2Fashion
Odisha signs 33 MoUs for investment of $902 million in textile sector
The eastern Indian state of Odisha has secured a significant breakthrough in textile sector investment following the launch of its Apparel & Technical Textile Policy 2022. The state government has announced the signing of 33 Memorandums of Understanding (MoUs), amounting to investments worth ₹7,808 crore ($902 million). Odisha Chief Minister Mohan Charan Majhi, while inaugurating Odisha-TEX 2025, stated, 'The state is set to emerge as the textile hub of eastern India. Odisha offers attractive incentive packages under its Industrial Policy Resolution 2022 and the Odisha Apparel & Technical Textiles Policy 2022, supported by excellent infrastructure and governance.' Odisha has signed 33 MoUs worth $902 million to boost its textile sector under the state's Apparel & Technical Textile Policy 2022. With plans to create over 1 lakh jobs by 2030 and expand clusters in six districts, the state is positioning itself as eastern India's textile hub. Employment subsidies have been raised to support workforce participation and attract investors. The textile and apparel industry event, Odisha-TEX 2025, was organised by the state government in Bhubaneswar. The Chief Minister added, 'With world-class infrastructure, progressive policies, and a skilled workforce, we are creating unmatched opportunities for investors and livelihoods for our people.' He also announced the formation of a dedicated Task Force under the Industries Department and assured investors of fast-track implementation and full government support. Odisha has set an ambitious vision to create over one lakh jobs in textiles and apparel by 2030, while developing new textile clusters in Bolangir, Keonjhar, Sambalpur, Jagatsinghpur, Ganjam, and Cuttack. Chief Minister Majhi also announced that the employment cost subsidies under the Odisha Technical Textile & Apparel Policy 2022 would be increased from ₹5,000 to ₹6,000 ($58–$70) per month for male workers, and from ₹6,000 to ₹7,000 ($70–$81) per month for female workers. The event attracted over 650 delegates from the textile sector, including global brands, leading textile and apparel companies, investors, technology providers, startups, and senior government officials. More than 160 companies, including reputed manufacturing units such as Page Industries, First Step Baby Wear, KPR Mills, Sportking, Adarsh Knitwear, Anubhav Apparels, Bon & Co., and B.L. International, participated in the summit. Fibre2Fashion News Desk (KUL)
Time of India
4 days ago
- Business
- Time of India
Investment intent of Rs 7,808cr at textile summit
1 2 3 4 5 Bhubaneswar: State govtsigned 33 memoranda of understanding with investment intent of Rs 7,808 crore and the potential to create jobs for over 53,300 people in the textile and apparel sector during the inaugural session of Odisha Tex 2025 investment summit here on Friday. Inaugurating the summit, chief minister Mohan Charan Majhi said, "Odisha is going to be the textile hub of eastern India. Odisha TEX 2025 is not just an event, it is a declaration that Odisha is ready to lead eastern India's textile revolution." The strategic move is set to transform Odisha into a hub for apparel and technical textiles, with participation from more than 160 companies, including industry giants like Page Industries, First Step Baby Wear, KPR Mills and Sportking. Among the MoUs, Hindalco Industries Limited will invest Rs 200 crore to set up apparel manufacturing units in Keonjhar and Sambalpur districts. The two units have the potential to create direct employment for 2,400 people, official sources said. Majhi announced an increase in employment cost subsidy under the Odisha Technical Textile & Apparel Policy 2022, raising it from Rs 5,000 to Rs 6,000 per month for male workers and from Rs 6,000 to Rs 7,000 per month for female workers. He announced the formation of a dedicated task force under the industries department to ensure fast-track implementation and full govt support for investors. "Odisha offers the most attractive incentive packages in the country under its Industrial Policy Resolution 2022 and the Odisha Apparel & Technical Textiles Policy 2022, backed by excellent infrastructure and governance," said the CM. Besides, two state-of-the-art textile and footwear parks with plug-and-play facilities for global standard manufacturing were launched, and modern workers' hostels to enhance industrial stability were announced. The govt also signed MoUs for skill development, enabling youth and especially women, to gain expertise in automated garmenting, textile machinery and wearable technologies. The CM also announced an ambitious vision to create over 1 lakh jobs in textiles and apparel by 2030, with plans to expand new textile clusters in Balangir, Keonjhar, Sambalpur, Jagatsinghpur, Ganjam and Cuttack. The event, organised by the state govt, attracted over 650 delegates, including global brands, leading textile and apparel companies, investors, technology providers, startups and senior govt officials. The CM also declared that Odisha Tex will become an annual event, showcasing the state's rich handloom legacy and its foray into modern textiles, apparel, and technical textiles ecosystems. Industries minister Sampad Chandra Swain, minister for handloom, textiles and handicrafts, Pradeep Bal Samant, Chief secretary Manoj Ahuja, development commissioner Anu Garg, and industries secretary Hemant Sharma, among others, were present.
The Hindu
4 days ago
- Business
- The Hindu
Odisha signs MoUs with 33 companies in textile sector
Odisha has signed 33 Memoranda of Understanding (MoU) with textile and apparel sector companies on Friday (July 25, 2025) that entail collective investment of ₹7808 crore expected to generate 53,300 employment. Besides, the State has also received several investment commitments that may help transform Odisha's apparel landscape. More than 160 companies including big names like Page Industries, First Step Baby Wear, KPR Mills, Sportking, Adarsh Knitwear and Anubhav Apparels participated in Odisha TEX 2025, The State launched two state-of-the-art textile and footwear parks with plug-and-play facilities for global-standard manufacturing, in addition to introduction of modern workers' hostels to enhance industrial stability. Chief Minister Mohan Charan Majhi announced that the employment cost subsidies under Odisha Technical Textile and Apparel Policy 2022 will be increased from ₹5000 to ₹6000 per month per male workers and from ₹6000 to ₹7000 per month per female worker. Mr. Majhi announced a dedicated task force under industries department to fast-track grounding of investment. Odisha has set an ambitious vision to create over one lakh jobs in textiles and apparel by 2030, while expanding new textile clusters in Bolangir, Keonjhar, Sambalpur, Jagasinghpur, Ganjam, and Cuttack. 'With world-class infrastructure, progressive policies, and a skilled workforce, we are creating unmatched opportunities for investors and livelihoods for our people,' Mr Majhi said.
Canada News.Net
4 days ago
- Business
- Canada News.Net
Odisha CM inaugurates first-ever 'ODISHA TEX 2025' to boost textile investment, jobs
Bhubaneswar (Odisha) [India], July 25 (ANI): Odisha Chief Minister Mohan Charan Majhi on Friday said that 'Odisha is going to be the textile hub of Eastern India,' while inaugurating Odisha TEX 2025, Eastern India's largest textile and apparel industry event, organised by the Government of Odisha in Bhubaneswar. The landmark event marked a historic moment for India's textile sector, attracting over 650 delegates, including global brands, leading textile and apparel companies, investors, technology providers, startups, and senior government officials. Odisha TEX 2025 showcased the state's growing strength in textiles and apparel and its commitment to creating a world-class ecosystem for manufacturing, innovation, and employment generation. The event witnessed multiple strategic investment commitments from leading textile and apparel companies, promising to make Odisha a hub for apparel and technical textiles. A total of 33 MoUs were signed, unlocking investments worth Rs 7,808 crore and generating employment for over 53,300 people. More than 160 companies, including respected names like Page Industries, First Step Baby Wear, KPR Mills, Sportking, Adarsh Knitwear, Anubhav Apparels, Bon & Co., and BL International actively participated in the summit. Together, they represent the full spectrum of India's textile value chain from yarn and fabrics to finished garments and technical textiles. The key announcements and policy were the launch of two state-of-the-art Textile & Footwear Parks with plug-and-play facilities for global-standard manufacturing. The Introduction of modern Workers' Hostels to enhance industrial stability and MoUs for Skill Development, enabling youth especially women to gain expertise in automated garmenting, textile machinery, and wearable technologies. The Chief Minister, Majhi, also announced that the employment cost subsidies under the Odisha Technical Textile & Apparel Policy 2022 will be increased from Rs 5,000 to Rs 6,000 per month per male worker & from Rs 6,000 to Rs 7,000 per month per female worker. The Chief Minister also announced that Odisha Tex will be an annual event portraying Odisha's rich handloom legacy & the state foray into modern Textiles, Apparel & Technical Textiles Ecosystem. 'Odisha offers the most attractive incentive packages in the country under its Industrial Policy Resolution 2022 and the Odisha Apparel & Technical Textiles Policy 2022, backed by excellent infrastructure and governance,' said the CM Majhi. Announcing a dedicated Task Force under the Industries Department, the Chief Minister assured investors of fast-track implementation and full government support. He emphasised Odisha's ambitious vision to create over 1 lakh jobs in textiles and apparel by 2030, while expanding new textile clusters in Bolangir, Keonjhar, Sambalpur, Jatsinghpur, Ganjam, and Cuttack. 'Odisha TEX 2025 is not just an event; it is a declaration that Odisha is ready to lead Eastern India's textile revolution,' CM Majhi said. 'With world-class infrastructure, progressive policies, and a skilled workforce, we are creating unmatched opportunities for investors and livelihoods for our people.' Minister for Industries Sampad Chandra Swain stated, 'Odisha Tex 2025 marks a new era for Odisha's textiles industry bringing policies, fast-track approvals, world-class clusters, and China+1 sourcing opportunities. Backed by skill-linked courses and industry-ready talent, Odisha promises sustainable growth, regional development, and a seamless experience for investors through responsive governance and a dedicated task force. Odisha offers a unique competitive advantage from raw material availability to port connectivity and a supportive policy framework, making it the most attractive destination for textile and apparel investments.' Minister for Handloom, Textiles & Handicrafts Pradeep Bala Samant added, 'Our commitment is two-fold, driving modern textile investments while strengthening Odisha's rich handloom heritage. By prioritising the development of a robust textile ecosystem, empowering traditional weavers, and boosting market access, the government ensures inclusive growth. We congratulate the investors for partnering with us through MoU signings, shaping Odisha's textile future. (ANI)
Time of India
07-07-2025
- Automotive
- Time of India
Top 10 companies of Nifty 500 with highest dividend payouts for FY25
Mumbai: Dividends play a crucial role for investors who see them as a valuable source of income from their investments apart from capital gains. A look at the dividend data of Nifty 500 index for FY25 to find out the top 10 companies that paid the highest dividends. Tata Consultancy Services (TCS) topped the charts based on the absolute dividend payment as well as the equity dividend percentage, which is calculated as dividend per share relative to its face value. The total dividend payout of the country's largest software exporter rose by 72.6% year-on-year to ₹45,612 crore, helped by a special dividend of ₹66 per share declared in January 2025. Its equity dividend percentage in FY25 was 12,600%, implying a dividend of ₹126 per share of a face value of ₹1. In FY24, TCS had paid a dividend of ₹73 per share or ₹26,426 crore at the absolute level. The absolute dividend amount alone would not be able to reflect the extent of dividend that investors receive per share. Therefore, equity dividend percentage comes into picture. In addition, the payout ratio, another parameter, indicates how much profit was distributed among shareholders as dividends. For TCS, the ratio was 93.9% based on FY25 net profit of ₹48,553 crore. It was significantly higher than the previous year's payout ratio of 58% suggesting that the company decided to distribute most of its profit in FY25 among shareholders at a time when capital investment opportunities look less attractive amid global economic uncertainties . Agencies Among other prominent high-dividend names, innerwear leader Page Industries nearly doubled its payout to 9,000% in FY25 from 3,700% a year ago, reflecting strong profitability. Two-wheeler titan Hero MotoCorp paid an 8,250% dividend, up from 7,000% in FY24, demonstrating steady cash generation in the automotive sector. Biscuit-maker Britannia Industries maintained its dividend at 7,500% versus 7,350% earlier, while premium bikes manufacturer Eicher Motors raised its payout to 7,000% from 5,100%.
