Textiles maker Arvind Ltd. announce to infuse Rs. 500 crore each annual for the next 4-5 years with an aim to two-fold revenue from its textile business to Rs. 12,000 crore. The company is also in the process of de-merging it’s brands and engineering businesses into separate entities.

Arvind Executive Director Kulin Lalbhai told PTI, “We are planning to double our textile business from Rs 6,000 crore to Rs 12,000 crore in 5 years time. We plan to invest Rs 500 crore every year for the next five years to expand its textile business.”

The company is also working to develop 3 large garment clusters in Jharkhand, Andhra Pradesh and Gujarat. Each of these clusters will employ 4,000-8,000 workers.

Lalbhai said, “All of these clusters are in execution mode. By end of the third quarter or beginning of fourth quarter, we will begin work in Jharkhand and Gujarat. Cluster in Andhra Pradesh will take a few more quarters to be operational. These clusters will be like a global supply chain.”

It has an existing cluster operational in Ethiopia in Africa, which the company uses to reach out to America and European markets. Arvind Ltd is also planning to enter into performance and functional clothing and synthetics.

Lalbhai also reported that the de-merger process will be complete by end of the third quarter of this fiscal, after which all the three businesses will be listed separately.

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