Gem Spinners India Ltd (GSIL), established in October 1990, operates in the textile industry, specializing in cotton yarn and knitted fabric production. Located in Kancheepuram District, Tamil Nadu, GSIL's plant utilizes sophisticated machinery from Germany, Italy, Switzerland, and Singapore. The company’s product range includes cotton yarn counts from 20s to 100s. It exports to several Asian markets, including Japan, Korea, Taiwan, Malaysia, and Hong Kong.
In 1994, GSIL went public to fund the establishment of a 100% Export-Oriented Unit (EOU) for manufacturing and exporting cotton yarn and knitted fabrics. The company diversified into garment exports by forming a new division in 1995-96. Despite developing a reputation for high-quality yarn under the GEM brand, GSIL faced financial difficulties and was declared sick by the Board for Industrial and Financial Reconstruction (BIFR) in 1999, with IDBI appointed as the Operating Agency. The company's shares have a face value reduced to Rs.5.
