Gokaldas Exports, the Bengaluru-based leading Indian apparel exporter, is set to invest in Madhya Pradesh (MP).
As per the sources, the company will invest in two phases in the Acharpura village of Bhopal. The project will create employment opportunity for around 4,000 people.
Notably, it will be the first ever factory of the company in MP.
The company didn’t share any details in this regard and did not reply to the mail of Apparel Resources. A source, however, confirmed that the company will invest in MP.
It is pertinent to mention that Gokaldas Exports clocked Rs. 370 crore revenue in Q4 ’21 and remains profitable despite unprecedented pandemic.
Just four months back, Tirupur-based Best Corporation had also announced to invest around Rs. 60 crore in Madhya Pradesh.
MP has offered few lucrative benefits to the factories investing in the state like offering 75 per cent subsidy compared to the market price and others.
Few of the other companies having massive expansion plans in the state includes Vardhman Group.