The Gujarat textile sector attracted investments amounting to around Rs 252 billion at the recently concluded Vibrant Gujarat Summit - 2011. In all 139 MoUs were inked at the 2011 summit out of which 34 MOU's are from the emerging Technical Textiles sector. The total investment in Textiles sector is expected to create employment opportunities for around 140,448 people.
The major portions of the investments were made in the Spinning sector, followed by Technical Textiles and rest was accounted for by textile parks, fabric processing and apparel sector. The total investment in technical textiles sector totaling to Rs 45.50 billion (USD 1 billion), which in turn will generate employment for around 12,340 people.
Among the major overseas investors is Finland-based Ahlstrom Fiber composites, a leader in medical textiles and which already has an operational Nonwovens plant in Mundra and is now planning to invest another Rs 400 million. Another Austrian investor is TenCate Geosynthetics Austria Gmbh, which is investing Rs 1 billion and will generate employment for around 100 people.
From amongst the domestic textile investors are Welspun India which is investing Rs 7 billion, Chiripal Poly Films Ltd is investing Rs 10 billion to produce BOPP and BOPET and similar expansion in both (film/yarn for application in technical textile) and Alok Industries is investing Rs 6 billion in expansion of existing capacities and processing for technical textiles.
Others include Narmada Thermal Power Ltd in a Polyester Film (BOPET) plant at a cost of Rs 4 billion; Sumilon Polyester Ltd is investing Rs 2.5 billion in a Pet Film and Metalised Polyester Film unit and GIT Textiles Manufacturing Limited is setting up a technical textiles weaving unit by investing Rs 1 billion.
Shubh Polyfilms Pvt Ltd is investing Rs 2.09 billion to produce BOPET Films, Modern Denim Ltd is investing Rs 1.98 billion to produce protective and sportswear fabrics and a technical textiles park is being setup by Hi Tech Technical Textile Park India at a cost of Rs 1 billion.
Read More about Gujarat - The Global investment hub for Technical Textiles @ Technicaltextile.net