Dubai: India is pitching to become the preferred sourcing partner for the global textile industry during the textile week at the India Pavi...
Dubai: India is pitching to become the preferred sourcing partner for the global textile industry during the textile week at the India Pavilion in Expo 2020 Dubai, which started on Friday.
Minister of State for Textile
& Railways, Darshana V Jardosh inaugurated the ‘Textile Week’ virtually, and has
invited the global investors to invest in the Indian textile value chain and
make it a preferred sourcing partner. Talking about the textile week (26th Nov
– 2nd Dec), she shared, “Indian textile is world-renowned as it not
only represents country’s glittering past but also matches up to the demands of
the modern times. India is the world’s second-largest exporter of textile and
clothing and focuses on both quality and scale of production to become the
global manufacturing hub and represents an immense opportunity for global
investors and buyers.”
The ‘Textile
Week’ at India Pavilion is seeing many activities including roundtable
discussions on India as a sourcing and investment destination for textiles
along with the production linked incentive (PLI) scheme.
India is
recognized as one of the best sourcing destinations for garments, textiles
& accessories. Textile share in India’s GDP is estimated at around 2.3% and
is the largest employer, employing about 45 million workers. India’s FDI policy
is recognized as the most liberal in emerging economies, which allows 100%
investment under the automatic route in the entire textile value chain.
India’s Minister
for Commerce and Industry, Textiles, Consumer Affairs, Food and Public
Distribution, Piyush Goyal has urged the textile industry ‘to focus on speed,
skill and scale and get into innovative partnerships.’
The government
has also recently approved a PLI scheme worth ₹10,683 for domestic
technical textiles firms, and manufacturers of fabrics and apparel in the
man-made fibre segment.
A high-level
delegation led by Vijoy Kumar Singh, Additional Secretary, Ministry of
Textiles, Government of India, is meeting global business federations along
with various industry chambers during the ‘Textile Week’ to explore potential
business tie-ups through investor connect programmes.
The Week will
also have a fashion show by the National Institute of Fashion Technology,
India.
These meetings are
also seeing participation from Jay Karan Singh, Trade Advisor, Ministry of
Textiles, A Sakthivel, Chairman, Apparel Export Promotion Council, Chandrasekaran
Thuvarapalayam Visvanathan, Chairman, Handloom Export Promotion Council, Dhiraj
Rai Chand Shah, Chairman, The Synthetic & Rayon Textiles Export Promotion
Council, M.A Ramasamy, Chairman, Powerloom Development & Export Promotion
Council, Umar Hameed, Chairman, Carpet Export Promotion Council, Sanjeev
Dhir, Chairman, Wool & Woollens Export Promotion Council, Naresh Kumar
Sadh, Chairman, The Indian Silk Export Promotion Council, Prem Malik, Past
Chairman, The Cotton Textiles Export Promotion Council & CITI and Vice
Chairman, NSL Textiles Ltd., T. Raj Kumar, Chairman, CITI, Siddharth
Lohariwal, Vice-Chairman, Jute Products Development & Export Promotion
Council & Rakesh Kumar Verma, Executive Director, Export Promotion Council
for Handicrafts and other industry stalwarts.
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