NTC to open 300 stores

Outlets will be named as Indian Republic.

State-run National Textile Corporation (NTC) wishes to bring 300 retail stores in the next two years. The corporation plans to launch over 100 showrooms by March 31, 2014 and 300 stores by the end of March 2015, either on its own or using the franchise route, informed by its CMD R K Sinha.

Union Textiles Minister K S Rao unveiled the logo of 'Indian Republic' in the presence of Union Tourism Minister K Chiranjeevi. As part of its marketing strategy, NTC plans to launch 300 retail stores during phase one, which would enable NTC to sell 2.6 million meters of garments.

It is making efforts to provide quality products at affordable prices in the range of Rs 399 and Rs 1499, NTC officials said.

Replying to a query, officials said that the company's exports are expected to touch Rs 100 crore this year and it has been profitable for about five years. Rao also informed that efforts are on to attract investments to the tune of about Rs 3,000 crore to Andhra Pradesh.

The government is ready to permit setting up of around four textiles parks in AP for which proposals have been received and the NTC plans to set up a weaving unit in the state at an investment of about Rs 500 crore, he said.