Jul 27, 2021
Kerala-based Kitex Garments recently received an invitation to invest in Sri Lanka from the island nation’s deputy high commissioner to Chennai D Venkateshwaran, who assured Kitex managing director Sabu Jacob of ‘complete cooperation’ from Colombo, according to reports from south India.
The company, however, is yet to take a decision on whether it would venture into the southern neighbour.
Kitex recently announced it would invest Rs 1,000 crore ($134.6 million) in Telangana.
Earlier, Bangladesh and several Gulf countries had offered the group incentives for investment after it scrapped a Rs 3,500-crore investment plan in Kerala.