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Kitex Garments to invest US $ 1 million in US

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READ MORE ON ExpansionGrowth StrategiesKidswearKitex Garments

Garments FactorySet-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.

Also ReadKitex to launch new infant wear brand in US

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.

 

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