NEW DELHI: In a strategic move to bolster its presence in India, global lifestyle brand Swiss Military announced its plans to invest Rs 56.5 crore in setting up its inaugural fully owned manufacturing facility in Haryana.

The company disclosed its intention to establish its first manufacturing unit exclusively dedicated to luggage and travel gear production in Faridabad, Haryana, as conveyed by Swiss Military Consumer Goods Ltd in an official statement.

Spanning across an expansive area of 1.21 acres with a built-up space of approximately 85,000 square feet, the proposed plant is poised to boast a formidable production capacity of 10 lakh pieces annually, according to the statement.

This significant investment underscores Swiss Military’s commitment to tapping into India’s burgeoning consumer market while leveraging the country’s conducive manufacturing ecosystem. The move is expected to fortify the brand’s foothold in the region and enhance its ability to cater to the evolving demands of Indian consumers.

The establishment of the manufacturing unit is anticipated to not only generate employment opportunities but also foster economic growth in the region. Moreover, it aligns with the government’s vision of fostering domestic manufacturing under the ‘Make in India’ initiative.

Swiss Military’s foray into establishing a dedicated manufacturing hub in Haryana signals a pivotal milestone in its expansion strategy, affirming its confidence in the Indian market’s growth trajectory and its commitment to offering superior quality products to discerning consumers.

This announcement reflects Swiss Military’s strategic investment in India, poised to bolster its manufacturing capabilities and enhance its market presence, ultimately benefitting both the company and the local economy.