Set-up in the year 1992,India-based kidswear manufacturer Kitex Garments – which exports its products to the US and European markets, with per day textile capacity of 50 tonnes and 2.70 units of infant wear – has decided to invest up to US $ 1 million in the Capital of Kitex USA LLC during the fourth quarter of fiscal year 2017.
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The company has also announced of getting an additional term loan of Rs. 17 crore under A-TUFS (The Amended Technology Upgradation Fund Scheme) with a tenure of five years. Sabu Jacob, CMD of Kitex Garments reportedly said that the company expects to record a 20 percent revenue growth in FY 2017.