Chandigarh, (UNI) In a major boost to the state’s industrial landscape, Punjab Industries and Commerce Minister Sanjeev Arora announced on Monday that Ganga Acrowools Limited is undertaking a substantial expansion project with an investment of approximately ₹750 crore.
This leading manufacturer of worsted woollen and fancy yarns, which currently exports to over 60 countries and maintains an annual turnover of ₹850 crore, aims to generate an additional 1,500 employment opportunities through this fresh capital infusion.
Minister Arora emphasised that the Punjab Government’s efforts to create a preferred destination for investors are yielding significant results, as evidenced by the company’s consistent growth and its contribution to over 3,000 jobs in the last five years.
The expansion project is notable for its integration of industrial growth with environmental sustainability, featuring a ₹53 crore investment in a paddy stubble-based boiler and turbine. This innovative plant is designed to consume roughly 1,20,000 tonnes of paddy stubble annually, effectively processing nearly 10,000 tonnes per month.
By utilising agricultural waste for energy, the project is expected to help make the surrounding area within a 20 to 25-kilometre radius farm-fire free, addressing a critical environmental challenge in the region while powering high-value manufacturing.
Amit Thapar, President of Ganga Acrowools Limited, shared that the company significantly revised its initial investment plan of ₹301 crore upward to ₹750 crore due to Punjab’s supportive business environment and policies that promote ease of doing business. He confirmed that ₹400 crore has already been invested, with the remainder slated for deployment over the next 24 months. The new facilities will manufacture specialised yarns for knitting, weaving, carpets, and technical textiles, further solidifying Punjab’s global standing in textile manufacturing and exports.
The minister further noted that this development is poised to create a substantial economic ripple effect throughout the state. Beyond direct job creation, the expansion is expected to bolster the local MSME ecosystem, value chains, and ancillary units. This significant endorsement from an established global player like Ganga Acrowools reinforces confidence in Punjab’s progressive industrial framework and its ability to sustain a highly investor-friendly ecosystem for domestic and international manufacturers.
