Thiagarajar Group and German Partner to Build ₹100 Crore Textile Unit

UPDATE - follow-up to Thiagarajar Group and German company to invest ₹100 crore at Virudhunagar: The Madurai business house and Germany's Euro Textiles are putting ₹100 crore into a brand-new textile factory in Tamil Nadu's Virudhunagar district.

Plant Details

K. Hari Thiagarajan, who leads Thiagarajar Mills as Managing Director, stated that the joint venture will house 48 modern air jet weaving machines. The factory aims to manufacture three million metres of cotton jacquard material annually.

Market Plans

Operations will focus on exports at the start, sending grey fabric directly to Germany. The partners plan to target buyers within the country at a later stage, while sister concern Thiagarajar Mill will supply all the necessary yarn for the plant. Production is scheduled to begin in eight to ten months.

Context

This business move targets a gap in current trade, as Indian sales of grey fabric to European nations remain low. Trade possibilities have grown with the upcoming India-European Union free trade agreement, which is set to take effect shortly.