Kitex Garments receives an invitation to invest in Sri Lanka

Kitex had announced that it would invest ₹1,000 crores in the state of Telangana.

According to Mathrubhumi, Dr. D Venkateshwaran, Deputy High Commissioner of Sri Lanka to Chennia, has invited Ketix Garments to invest in the island country during his meeting with Kitex’s Managing Director (MD) Sabu Jacob.

Venkateshwaran offered the MD a “complete cooperation” if Kitex plans to invest in the neighbouring nation. However, the company is yet to announce a decision on the venture.

Furthermore, Kitex informed about its ₹1,000 crore investment in Telangana while claiming that it had received investment offers from eight different states too.

Earlier, as reported by Moneycontrol, the garment exporter had announced to withdraw a project worth ₹3,500 crore for building apparel and industrial parks in Kerala with allegations of harassments through inspections including eleven factory raids in a month.

In a phone interview to Moneycontrol, Kitex Garment’s MD said, “Officials from various departments such as labour, health, factory and boilers, pollution control, besides the police and the collector have conduced inspections.” He added that they came in “hordes” and questioned the workers asking for their names and addresses without finding any discrepancy.

Countries like the United Arab Emirates (UAE), Oman as well as Bangladesh had offered several opportunities to Kitex in the middle of June. Nevertheless, Jacob told The New Indian Express (TNIE), “But Kitex is not planning to go abroad as we have better offers from Indian states.”

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