Indian fashion and textile manufacturer Indus Fila Ltd has bought a 51% stake in Indus Garments (India) Pvt Ltd for INR93.5m (US$2.3m).

Indus Garments is an established apparel manufacturer that makes 3.6m garments a year and exports more than 96% of its products to customers in the US and Europe.

The acquired company made a profit of INR46.4m on turnover of INR899m in fiscal 07.