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Kanoria’s African venture
Kanoria Chemicals & Industries Ltd is back in textile business after a gap of two decades. The company is in talks with H&M, Peter Van Heusen, Velocity, Raymonds and Arvind to sell denim from its plant in Ethiopia. The company has made an investment of about $50 million in the African country to take advantage from duty-free exports to the US and the European Union.
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