- Textile expansion to boost high-value manufacturing, exports and MSME ecosystem in Punjab: Sanjeev Arora
Chandigarh, 2 March
Punjab’s Industries and Commerce, Investment Promotion, Power and Local Government Minister Sanjeev Arora announced on Monday that the state government is steadily transforming Punjab into a preferred investment destination. He highlighted a major expansion project by Ganga Acrowools Limited, a leading manufacturer of worsted woollen and fancy yarns.
Addressing a press conference, Minister Sanjeev Arora stated that Ganga Acrowools Limited exports to over 60 countries, currently employs more than 5,600 people, and has an annual turnover of ₹850 crore. “The company has created employment for over 3,000 people in the last four to five years and has consistently invested in Punjab under every industrial policy since 1998. Through this fresh investment, the company will generate more than 1,500 additional employment opportunities,” he said.
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Detailing the scale of the project, the Minister revealed that Ganga Acrowools is investing ₹690 crore in Punjab, including ₹53 crore specifically for a paddy stubble-based boiler and turbine. “This facility will consume approximately 1,20,000 tonnes of paddy stubble per year (around 10,000 tonnes per month) and will help create a farm-fire-free zone within a radius of 20 to 25 kilometres,” he emphasized, highlighting how the initiative balances industrial growth with environmental sustainability.
Amit Thapar, President of Ganga Acrowools Limited, speaking on the occasion, noted that the company had initially announced an investment of ₹301 crore at the previous investor summit. “Thanks to the investor-friendly environment, policy reforms promoting ease of doing business, and reduced cost of operations, we revised our commitment to ₹690 crore, which has now been further increased to approximately ₹750 crore. Of this, ₹400 crore has already been invested, and the remaining amount will be invested over the next 24 months,” he explained.
He added that the expansion will focus on producing yarns for knitting, weaving, carpets, and segments of technical textiles, further strengthening Punjab’s position in high-value textile manufacturing and exports.
The project is expected to deliver significant economic benefits to the region, including substantial job creation, strengthened local value chains, support for MSMEs, and growth in ancillary industries. This major investment serves as a strong endorsement of Punjab’s progressive industrial policies and its investor-friendly ecosystem, boosting confidence among both domestic and international manufacturers.
