Suppliers of several non-leather footwear brands like Nike, Adidas, Puma, New Balance, and Reebok are betting big on Tamil Nadu as a manufacturing hub, with the state already in the process of grooming a supplier ecosystem, for which India is almost entirely dependent on imports.
According to sources, more than half a dozen global suppliers are in the process of setting up their units in the state as part of their China Plus One strategy and India's import curbs.
To create a raw material supply base for these upcoming players, Kothari Industrial Corporation has signed pacts with the Tamil Nadu government to bring in 19 suppliers from countries like Taiwan, Vietnam, China, and Portugal. This is expected to result in an investment of ₹4,000 crore and create 50,000 jobs.
Denne historien er fra November 18, 2024-utgaven av Business Standard.
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Denne historien er fra November 18, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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