The German brand has collaborated with an Indian company, Iatric Industries Group
New Delhi:
Amid the ongoing coronavirus pandemic, a German shoe brand, Von Wellx, recently shifted its manufacturing units from China to Agra in Uttar Pradesh.
The shoe company operationalised two production units in Agra earlier this week.
Mahindra Group Chairman Anand Mahindra, meanwhile, has welcomed the German shoe brand to the country, terming it a “huge opportunity” for India.
Mr Mahindra said that this “trickle” would soon turn into “a flood” of investment.
“The first few drops, which turn into a trickle, then a strong flow and finally a flood. Let’s make sure we do nothing to prevent this good flood of investment. It’s a huge opportunity. I hope Invest India can catalyse this,” Mr Mahindra’s tweet read.
The German brand has collaborated with an Indian company, Iatric Industries Group, to shift its manufacturing units to Agra’s Exports Promotion Industrial Park.
According to sources, close to 2,000 people have so far received employment in these units, and the company is slated to invest approximately Rs 300 crore in three projects in UP.
Von Wellx claims it will provide direct and indirect employment to close to 10,000 people. The units will produce a total of 50 lakh pairs of shoes annually.
This is a big achievement for the UP government, especially during the pandemic phase, since the whole process started just five months ago when the country was under a nationwide lockdown to curb the spread of coronavirus.
Meanwhile, UP has also taken a big leap in the Ease of Doing Business rankings among the states and is currently in the second position. Only Andhra Pradesh is ahead of UP in the list.
