Materials technology company Toray has formed a joint venture with South Asia apparel manufacturer MAS Holdings to expand within the Indian apparel market.
Operating under the name Toray MAS Apparel India, the venture will include a new manufacturing facility at the MAS Apparel Park Bhuinpur in Odisha, India. The facility is currently in development after a groundbreaking in March, and is expected to be operational in early 2026.
“Toray MAS Apparel India will contribute to local employment and economic growth by manufacturing advanced, top-quality offerings,” said Tero Funahashi, managing director for Toray Hong Kong. “That company will serve as a garment stronghold in India for Toray and MAS Holdings, reinforcing their partnership by deploying strategies that capitalize on their capabilities.”
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The new facility will cater to both current and potential customers in the region, designed to support the growing demand for textiles and apparel in the Indian marketplace. According to Statista, the apparel market in India is projected to reach $109.45 billion in 2025, and it’s anticipated to grow annually by 3.26 percent between now and 2029.
“This joint venture marks a significant step forward in strengthening our global supply network and deepening our partnership with Toray Industries,” said Suren Fernando, group CEO of MAS Holdings. “The Odisha facility will play a key role in supporting our customers’ evolving needs, driving innovation and contributing to regional economic development. In today’s global economic landscape, strategic partnerships like this are key to enhancing our capabilities and continuing to deliver value-added solutions to our customers.”
Sustainability will play a big role at the Toray and MAS Apparel plant, with the facility’s design incorporating renewable energy solutions such as rooftop solar panels, advanced water and wastewater management systems, and energy-efficient technologies across operations. The location also will integrate environmentally responsible practices in waste and chemical management with the goal of aligning future operations with environmental stewardship and social responsibility.
Those considerations align with MAS Holdings’ science-based climate targets, which were recently sanctioned by the Science Based Targets initiative. The Sri Lanka-based conglomerate that works with Lululemon and LVMH, among other brands, said it is committed to reducing its total global greenhouse gas emissions to net-zero by 2048.
