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L.N. Revathy

Coimbatore , May 30

REACH Technologies, an IT solutions provider for the domestic apparel industry, is targeting 300-per cent growth in turnover in the coming fiscal.

Within two years of commercialising its product for the sewn product sector, Reach Technologies managed to clock a turnover of Rs 6 crore.

Speaking to Business Line, its CEO, Mr Shyam Raj, said that the market potential was huge. There were over 60,000 units owned by about 7,500 companies manufacturing apparels worth over Rs 70,000 crore annually. ``We have provided the solution to 145 units in the last two years. We are planning to reach out to at least 3,000 units within the next two to three years. Our study shows that the adoption of IT is still restricted to large enterprises and the potential IT spend by this sector is just about one per cent. Despite these constraints, a good number of apparel units are as modern as in any other part of the globe,'' Mr Raj said.

Mr Raj said Tamil Nadu was a very critical market for the company as the units located here account for 80 per cent of the apparel exports.

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