🏠 News Empire
economy

Suvendu Adhikari Lays Foundation for ₹600-crore Lux Cozi Garment Hub in Bengal

Published on: 12 Jul 2026, 04:35 AM
Suvendu Adhikari Lays Foundation for ₹600-crore Lux Cozi Garment Hub in Bengal

Kolkata, July 11: West Bengal Opposition Leader Suvendu Adhikari laid the foundation stone for a ₹600-crore Lux Cozi garment manufacturing hub in Dankuni, West Bengal, on Saturday. The company stated that once completed, the facility is expected to become one of the largest garment manufacturing hubs in Asia.

Speaking at the event, Mr. Adhikari said that West Bengal would soon attract foreign investments and industries to foster growth and retain young talent. He emphasised the need to end what he described as “extortion and syndicate racket” in the state, adding that efforts over the past two months had largely reduced such practices. “We must end the extortion and syndicate racket in Bengal. We have managed to largely get out of this culture in the past two months,” he said.

Mr. Adhikari further stated that the government would create a business-friendly environment by improving law and order and eliminating extortion. The event was attended by Ministers Tapas Roy, Arjun Singh, Dr. Sharadwat Mukherjee, and Bharatiya Janata Party state president Samik Bhattacharya.

In his remarks, Mr. Bhattacharya said that industrialists in Bengal had historically visited party offices before approaching the state secretariat (Nabanna) for business discussions, a practice he deemed incorrect. “For the last 50 years in Bengal, political parties have ruled the state; it has always been the Left government or the Trinamool government, but we want that culture to change so it becomes the West Bengal government,” he said.

Mr. Bhattacharya added that West Bengal possesses the resources to become an industrial hub. He noted that before the current government came to power, the “flight of industries” from the state could not be stopped, but now a favourable environment for industrial growth was being created. He urged industrialists to consider returning to West Bengal.

Ashok Todi, Chairman of Lux Industries Limited, said the Dankuni facility would strengthen production capabilities, create meaningful employment, accelerate regional industrial development, and contribute to India’s emergence as a global textile and apparel manufacturing powerhouse.

According to an official statement, the expansion will increase the annual capacity of the existing facility from 12 crore pieces to an additional 20 crore pieces, raising the Lux Cozi Group’s total nationwide capacity from nearly 20 crore to approximately 36 crore pieces annually. The project is expected to generate 3,000 direct and 6,000 indirect employment opportunities. The automated facility aims to consolidate manufacturing, eliminate regional processing bottlenecks, and reduce wastage.

Latest in Economy 10
Rupee gains 44 paise to 94.92 as RBI steps in to curb dollar demand
economy

Rupee gains 44 paise to 94.92 as RBI steps in to curb dollar demand

The rupee appreciated 44 paise to 94.92 against the U.S. dollar in early trade on Wednesday, helped by RBI measures to reduce near-term dollar demand and curb speculation. The currency has now gained for three consecutive sessions, though traders expect external pressures to limit further gains. Domestic equities opened marginally lower.

The Hindu 14 Oct 2026, 05:00 AM
Read More →
Sitharaman Says She Will 'Keenly Hear' Views on LTCG and STT as Markets Rise 1%
economy

Sitharaman Says She Will 'Keenly Hear' Views on LTCG and STT as Markets Rise 1%

Finance Minister Nirmala Sitharaman said she would keenly hear views on the long-term capital gains tax and the securities transaction tax, without confirming whether either would be considered in the Budget 2027 preparations. She also said the RBI would continue acting to curb rupee volatility rather than fix its level, shortly after which the stock market rose about 1%.

The Hindu 13 Oct 2026, 01:44 PM
Read More →
Chennai Dominates Tamil Nadu's Residential Market with 51.5% of Launches: Report
economy

Chennai Dominates Tamil Nadu's Residential Market with 51.5% of Launches: Report

A report by JLL released at CREDAI Tamil Nadu's STATECON 2026 reveals that Chennai accounts for 51.5% of the state's residential launches, while plotted developments dominate secondary growth corridors. The conference discussed strategies to support Tamil Nadu's ambition of becoming a $1.5-trillion economy by 2036, including regulatory reforms and affordable housing.

The Hindu 11 Oct 2026, 01:52 PM
Read More →
Tomato prices rise in Andhra Pradesh as Madanapalle arrivals fall ahead of festive season
economy

Tomato prices rise in Andhra Pradesh as Madanapalle arrivals fall ahead of festive season

Tomato prices in Andhra Pradesh's Rayalaseema districts have risen after arrivals at the Madanapalle market yard fell to 62 tonnes on Wednesday from 88 tonnes a day earlier, with first-grade produce quoted at ₹410 per 10 kg. Retail prices are ruling at ₹45 to ₹50 a kg in Madanapalle, Kadapa, Tirupati and Kurnool. Traders expect prices to stay firm through the Dasara, Diwali and Ayyappa Deeksha season unless arrivals improve, while farmers say retail rates do not fully reach them after costs.

The Hindu 01 Oct 2026, 03:30 AM
Read More →
CAG flags 12,393 acres of Odisha industrial land lying unutilised, encroachments unchecked
economy

CAG flags 12,393 acres of Odisha industrial land lying unutilised, encroachments unchecked

A CAG report tabled in the Odisha Assembly has found that 12,393.651 acres of land allotted for industry between 1981 and 2021 were never used for their sanctioned purpose, with a further 252.692 acres diverted. The audit also flagged 668.893 acres of government land worth ₹597.87 crore under unauthorised occupation, including 10 acres of Bhubaneswar forestland held by the Kalinga Institute of Social Sciences despite a pending case.

The Hindu 29 Sep 2026, 01:48 PM
Read More →
Rupee slips 11 paise to 95.84 as crude oil holds above $100 amid West Asia uncertainty
economy

Rupee slips 11 paise to 95.84 as crude oil holds above $100 amid West Asia uncertainty

The rupee fell 11 paise to 95.84 against the U.S. dollar in early trade on Thursday, pressured by a stronger dollar, firm U.S. bond yields and crude oil prices holding above $100 a barrel amid stalled West Asia diplomacy. Domestic equities also declined, with the Sensex down 506 points, though foreign investors remained net buyers of Indian shares on Wednesday.

The Hindu 24 Sep 2026, 05:10 AM
Read More →
Spinning mills urge Centre to scrap 11% cotton import duty permanently
economy

Spinning mills urge Centre to scrap 11% cotton import duty permanently

The Southern India Mills' Association has renewed its demand for the permanent removal of the 11 per cent import duty on cotton, saying the levy fuels price volatility across the textile value chain. SIMA chairman Durai Palaniswamy also sought curbs on speculation and a review of the Cotton Corporation of India's pricing policy, while the association announced its office bearers for 2026-27.

The Hindu 22 Sep 2026, 01:50 PM
Read More →
Over 3,670 MSMEs Tap Into PSU Supply Chains as Tamil Nadu Expands Vendor Outreach
economy

Over 3,670 MSMEs Tap Into PSU Supply Chains as Tamil Nadu Expands Vendor Outreach

Tamil Nadu has held 13 vendor development programmes to connect MSMEs with public sector undertakings, with more than 3,670 small firms benefiting so far, MSME Minister P. Mathan Raja said in Thoothukudi. He cited a ₹2,141 crore budget allocation for MSMEs this year and a ₹600 crore capital subsidy scheme, and said the State's $1.5 trillion economy target for 2036 depends on large industry and small firms working together.

The Hindu 18 Sep 2026, 01:49 PM
Read More →
State revenue receipts lag at 32% of annual Budget estimate after five months
economy

State revenue receipts lag at 32% of annual Budget estimate after five months

The State’s revenue receipts reached only 32.14% of the annual Budget estimate at the end of August, with non-tax revenue and grants lagging significantly. Tax collections were relatively better but several heads remained below 40% of their targets. Pensions and interest payments continued to dominate expenditure, while the revenue deficit stood at ₹14,840 crore.

The Hindu 18 Sep 2026, 01:54 PM
Read More →
→ View All Economy News