CHANDIGARH: In a significant boost to Punjab’s industrial growth, Industries and Commerce, Investment Promotion, Power and Local Government Minister Sanjeev Arora on Monday announced a major expansion by Ganga Acrowools Limited, a leading manufacturer of worsted woollen and fancy yarns. Addressing a press conference, the minister said the company exports to over 60 countries, employs more than 5,600 people and has an annual turnover of ₹850 crore. He added that the firm has created over 3,000 jobs in the past four to five years and will generate more than 1,500 additional employment opportunities through its fresh investment.
Arora revealed that the company is investing ₹690 crore in Punjab, including ₹53 crore for a paddy stubble-based boiler and turbine project. The plant will consume nearly 1,20,000 tonnes of paddy stubble annually—around 10,000 tonnes per month—helping make a 20–25 km radius area farm-fire free. He emphasised that the project represents a model of industrial expansion aligned with environmental sustainability.
Speaking on the occasion, company President Amit Thapar said the investment, initially announced at ₹301 crore during the last investor summit, has now been scaled up to approximately ₹750 crore due to Punjab’s improved ease of doing business and reduced operational costs. Of this, ₹400 crore has already been invested, with the remaining to be deployed over the next 24 months. The expansion will focus on manufacturing yarns for knitting, weaving, carpets and technical textiles, further strengthening Punjab’s position in high-value textile exports and boosting local MSMEs and ancillary industries.
