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Monday, 20 December 2021 11:56

Sangam India to set up several units in Rajasthan

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Sangam India will set up multiple manufacturing units focusing on spinning, weaving, garments, knitting and processing over 100 acres of land in Rajasthan. This would generate direct/indirect employment for over 10,000 people. This investment will be funded through a combination of internal accruals, raising fresh equity and debts via financial institutions.

The expansion is expected to increase the company's revenue by 15 per cent from 2022-23. The expansion program will result in the installation of 32,832 spindles and six knitting machines for the manufacturing of cotton yarn and knitted fabric. The plan is to achieve an increase of 15 per cent in the overall business. The textile sector of India needs a major impetus, especially after the turbulent times faced by the industry during the Covid pandemic.

Sangam India produces PV dyed yarn and seamless apparel and plans to increase the existing capacity of its cotton yarn business by 47 per cent and knitted fabric business by 28 per cent. Sangam India’s revenue has doubled in the second quarter of this fiscal year compared to the second quarter of the last fiscal. Sangam is aiming at strategically leveraging the D2C (director) market and the digitised textile space to further elevate its reach and supply in India and overseas.