Bombay Rayon Fashion Limited (BRFL) is one of the most comprehensive technologically advanced fabric and apparel manufacturers in India. The company will build India’s largest textile factory with an investment of approximately US$250 million.
The company’s managing director in charge of finance said in an exclusive interview with Indian media: “We will build fabric and clothing production factories in different areas of Maharashtra, with a total investment of more than 250 million US dollars. The largest factory has a daily output With 500,000 meters of fabric, this state-of-the-art fabric production factory will be put into operation next month.”
Last month BRFL signed a memorandum of understanding with the Maharashtra government to expand its fabric and apparel production capabilities by building new factories.
In 2008, major changes occurred in the world economy, and the rupee depreciated by 25% against the US dollar. But more importantly, it devalued the yuan by 24%.
The depreciation of the rupee is beneficial to Indian exporters, who are now beginning to take advantage of exchange rate changes and accept more overseas orders.
Now that the RMB is appreciating, China’s textile industry has lost its advantage, which paves the way for Indian manufacturers to expand their market share. The director said that Indian manufacturing companies with large production capacity, especially textile and clothing companies, will definitely benefit. Due to factors such as the appreciation of the renminbi and rising labor costs, Chinese companies are nervous and Indian companies will definitely be able to get more orders.
