AUSTIN (Diya TV) — Texas governor Greg Abbott has appointed Arun Agarwal to the Product Development and Small Business Incubator (PDSBI) Board, making him the first Indian-American to be appointed to a key post in the state’s history. He will hold the post until Feb. 2019.
Agarwal, CEO of Nextt, the Dallas-based leader in the US home textile industry, brings in $500 million yearly in revenue, and provides textiles to major U.S. retailers including Dillard’s, Belk, Wal-Mart and Kohl’s. Additionally, Nextt brings the star power of designers such as Beautyrest, Ellen Tracy, Jessica McClintock and Royal Sateen.
The PDSBI is a revolving loan program, administered by the office of the governor, and overseen by a nine-person board of members appointed by Abbott. The program provides financial aid for the development, production and commercialization of new or improved products, and to foster the growth of small businesses in Texas.
“It is such a huge honour for me to serve on one of the Governor’s boards,” said Agarwal.
“As global business owners, it is our responsibility and civic duty to help other local small businesses survive and thrive in this global economy, and I am excited to do my part.”
Agarwal was recently awarded “NRI of the Year” by TIMES NOW and ICICI Bank in 2015 and was selected as a 2014 Minority Business Leader by the Dallas Business Journal. His company was recently awarded the patent for “alpha cotton,” a hybrid fabric that will make sheets 30 to 40 percent cheaper than 100 percent cotton. Headquartered in Dallas, Nextt was ranked 17th in the 2014 Dallas 100 list of fastest growing companies selected by the Caruth Institute for Entrepreneurship of SMU.