Eyewear major Lenskart signed an MoU with the Telangana government on December 8 to set up a manufacturing facility with an investment of around Rs 1,500 crore. The plant, set to be established at Fab City, is expected to generate around 2,100 jobs.
Telangana Minister for IT, E&C, Industries & Commerce, and Legislative Affairs D Sridhar Babu wrote on X (formerly Twitter): "Very delighted to announce the signing of an MoU with @Lenskart_com today wherein Lenskart will set up the world’s largest eyewear manufacturing facility in Telangana with an investment of around Rs 1,500 crore."
He added: "The facility will produce eyewear, lenses, sunglasses, accessories, and other products catering to the Indian market, along with exports to Southeast Asia and the Middle East. The plant will create around 2,100 jobs and discussions are ongoing about setting up an R&D center."
The facility will be located at Fab City, with land already identified and scheduled to be handed over to Lenskart this week. "This is a testament to our policy that ensures speed and ease of business for companies," Babu said.
Also, read: Lenskart seeks land for 'mega factory' near Bengaluru airport; Karnataka minister responds within minutes
Karnataka's missed opportunity
In April 2024, Lenskart co-founder and CEO Peyush Bansal posted on LinkedIn, announcing the company’s search for 25 acres of land to establish a "mega factory" within 60 km of Bengaluru's Kempegowda International Airport.
"Lenskart is seeking 25 acres of land within 60 km of Kempegowda Bengaluru International Airport for the construction of its next mega factory. If any company is interested in selling factory land near Bengaluru airport, please email: megafactory@lenskart.in," Bansal wrote on LinkedIn at 11:45 am on April 9.
Just minutes later, at 11:48 am, Karnataka Industries Minister MB Patil responded on X, sharing a screenshot of the post and writing: "Karnataka is the ideal destination! @peyushbansal @Lenskart_com. The Industries Department is committed to supporting and facilitating all your requirements. Concerned officials will reach out immediately."
However, the status of the investment has not been updated since then. The Congress party governs both Karnataka and Telangana.
Founded in 2010, Lenskart operates over 1,500 retail outlets across India. The company’s largest existing manufacturing facility is in Bhiwadi, Rajasthan.
Meanwhile, Patil is now leading a European delegation to secure investments for the upcoming Invest Karnataka event in February 2025.
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