Chennai:
Leading homegrown active wear brand TechnoSport has inked a Memorandum of Understanding (MoU) with the Tamil Nadu Government to establish an active wear factory in Erode district.
The cutting-edge facility, poised to commence production by March 2024, will specialize in technical textiles, harnessing state-of-the-art technologies from Germany, Japan, Italy, and Taiwan.
Boasting a daily capacity of 25 tons, the mega factory is anticipated to create more than 2000 jobs over the course of the next four years, a company release on Thursday said.
The agreement, formalized during the Global Investors Meet, outlines TechnoSport’s commitment to manufacturing technical activewear fabrics under the ‘Special Scheme for Technical Textiles 2023’ at this facility.
Sunil Jhunjhunwala, Co-Founder & Director at TechnoSport, said, “We are pleased to collaborate with the developmental initiatives of the Tamil Nadu government. The state’s well-established industrial ecosystem, advanced infrastructure, and business-friendly policies offer numerous opportunities that not only help us in reaching our goals but also contribute significantly to the state’s overall progress.” Notably, TechnoSport has consistently showcased its dedication to providing high-quality yet affordable activewear to the masses over the years. This partnership not only aims to bolster the brand’s global recognition and local popularity but also endeavors to enhance the state’s economy through revenue generation and employment creation. It aligns with Tamil Nadu’s ambition to achieve a trillion-dollar economy sustainably and inclusively.
By formalizing this MoU with the Tamil Nadu Government, TechnoSport strives to achieve its ambitious targets and also seeks to propel the state’s economic progress and sustainable development, he said.
