KSIC looking to expand operations

The Karnataka Silk Industries Corporation (KSIC) plans to expand operations, focused on tackling the increasing demand for Mysore silk saris and to making them a bit inexpensive. It plans to revive a defunct unit and add a new power loom building, help create around 200 jobs in the organisation in Mysore and raise its annual turnover.

A new building harnessing solar power that can house 100 power looms will be opened soon at an investment of Rs 24.07 crores. Production in the now-defunct Channapatna unit will also start soon as 30 looms have been installed there at a cost of Rs 8.77 crores.

Saris from the Channapatna unit would be priced around Rs 5000 to make them affordable and hit the market in four months. KSIC has set up a target to increase its turnover to Rs 185 crores this fiscal compared to Rs 177 crores in the last fiscal. The organisation’s profit in the last fiscal was Rs 28 crores.

The reeling unit in T Narsipur has also been strengthened. KSIC, based in Bangalore, opened in 1980, and makes dhotis, shawls, curtains, cushions, saris, shirts, kurtas. It has showrooms in Bangalore, Chennai, Mysore, Hyderabad, and Kerala.