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J U L Y 2 3 - I S S U E 8 2
- Mohit Jain, Executive Vice-Chairman of Indo Count Industries Ltd -
Indo Count Industries Ltd., one ofIndia’s largest home textilemanufacturers announced that thecompany has been recognized as a‘Top Performer’ supplier at Walmart’sGlobal Sourcing SustainabilitySummit held on 15th July 2021.
Walmart launched “Project Gigaton”in 2017 aiming to inspire suppliers toreduce upstream and downstream(beyond-the-shelf) greenhouse gas(GHG) emissions from the globalsupply chain. Specifically, ProjectGigaton’s goal is to reduce one billionmetric tons, or one Gigaton, of CO2emissions from the global supplychains by 2030.
Indo Count has contributed towards Project Gigaton since inceptionfor reducing GHG emissions through various initiatives such asinstallation of solar plant, and reduction in freshwater consumptionvia water recycling plant. In additional to these sustainabilityinitiatives, as an organization Indo count are also supportingWalmart’s commitments on sustainable fibers, recyclable/sustainablepackaging, and implementation of HIGG index.
The Kitex team was invited by Govt of Telangana fordiscussions on potential investment opportunities in thestate. The team headed by Mr. Sabu M Jacob visited thestate, attended discussions chaired by IndustriesMinister along with the senior executives of the state.
The team also visited Kakakatiya Mega Textile Park, andChandanvelli Industrial Parks. Further to the discussions,the company has agreed in principle to invest Rs 1000Crores to set up apparel manufacturing facilities in thestate which will create 4000 additional employmentopportunities over the next 2 years.
Telangana ranks among highest in ease of doing businessand is an ideal destination for apparel manufacturing asit is the 3 largest producer of cotton in India, hassufficient infrastructure facilities, investor friendly statepolicy, thereby very conductive for industrial growth.
With liberal government policy, availability ofraw material and various incentives offered bythe state, the company expects to reduce itsoperating cost, shorten payback period anddrive profits. The Company also expects to fasttrack its investment with active stategovernment support.
Mr. Sabu Jacob indicated that the company willbe investing in the entire textile value chain,starting from the ginning, spinning to cut n sew.This is to take advantage of the availability ofcotton in Telangana state.
Mr. Jab also exuded confidence that the demandis back to the pre-covid levels and 2021-22 willbe a record year for Kitex. The company plansto invest aggressively and maximize growthover the next 10 years, taking advantage of theemerging opportunities.
Established in 1992 Kitex Garments is into 100%export of cotton and organic cotton garments,especially infants wear. The company exportsits products to the US and European markets.The vertically integrated manufacturing plantmakes infants wear as well as fabrics.
