Sri Lanka apparel manufacturing conglomerate MAS Holdings is making a major investment in India. The company is sinking $140 million in a new state-of-the-art apparel park in Bhuinpur, in the Khurda district of the Indian state of Odisha.
MAS Holdings has had a presence in the Indian market for 25 years, and this new investment reflects the company’s confidence in the country’s apparel and textile sector.
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“With 25 years of experience operating in India, we recognize the immense potential of the country’s manufacturing landscape, which supports both global supply chains and the rapidly growing domestic retail market,” said Suren Fernando, group CEO, MAS Holdings.
The site, which is scheduled to be operational in 2026, spans 60 acres and will be designed as an integrated manufacturing hub. MAS Holdings will draw inspiration from its Sri Lanka apparel parks, bringing a diverse group of industry partners into one facility to help streamline the supply chain and provide speed and cost efficiency for brands.
Over the next decade, MAS Holdings’ apparel park is estimated to generate more than 10,000 jobs, and the company will work with the Odisha government to maximize the impact of the facility on the local economy.
“Our objective is to advance the textile sector while generating employment and contributing to the region’s economic prosperity,” said Malik Ahamadeen, CEO, MAS India.
MAS Holdings’ investment in India makes sense considering the recent growth of the country’s textile and apparel industry. According to global management consulting firm IMARC Group, India’s textile and apparel market was valued at $222.08 billion in 2024, and the firm estimates that market will reach $646.96 billion by 2033, a compound annual growth rate of 11.98 percent between 2025 and 2033.
MAS Holdings specializes in performance apparel and undergarments, working with brands such as Victoria’s Secret, Nike, Lululemon, Speedo and Lacoste among many others. In recent years, the company has amped up its sustainability efforts, partnering with Los Angeles-based material sciences company Ambercycle last year to scale its regenerated polyester product, Cycora. The move aligned with MAS Holdings’ “Plan for Change” sustainability strategy, which has a primary goal of deriving 50 percent of its revenue from sustainable products by this year.