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India aims to be a priority procurement partner for the global textile industry

India proposes to become a priority procurement partner for the global textile industry during Textile Week at the India Pavilion at EXPO 2020 in Dubai on November 26, 2021. Textile Minister of State Darshana Jardosh begins “Textile Week”. In effect, we are calling on investors around the world to invest in the Indian textile value chain.

Regarding the upcoming Textile Week (November 26th to December 2nd), Jardosh said: “India’s textiles are world-famous for not only representing the country’s glittering past, but also meeting modern demands. India is the world’s second largest exporter of textiles and clothing. It has become a global manufacturing hub with a focus on both quality and scale of production, representing a great opportunity for investors and buyers around the world. “

The Ministry of Textiles has released a media release saying that “Textile Week” at the India Pavilion will show many activities such as a round table meeting on India as a destination for procurement and investment of textiles and a production-linked incentive (PLI) scheme. Stated.

India proposes to become a priority procurement partner for the global textile industry during Textile Week at the India Pavilion at EXPO 2020 in Dubai on November 26, 2021. Textile Minister of State Darshana Jardosh begins “Textile Week”. In effect, we are calling on investors around the world to invest in the Indian textile value chain.

India is recognized as one of the best sources of clothing, textiles and accessories. Textile’s share of India’s GDP is estimated at about 2.3%, making it the largest employer and employing about 45 million workers. India’s FDI policy is recognized as the most generous in emerging economies, allowing 100% investment under automated routes throughout the textile value chain. The Coalition Minister of Textiles, Piyush Goyal, urged the textile industry to “focus on speed, skill and scale and form innovative partnerships.”

The government recently approved a PLI scheme worth £ 10,683 for domestic industrial textile companies and manufacturers of textiles and apparel in the artificial textile segment.

A high-level delegation, led by Vijoy Kumar Singh, an additional secretary to the Ministry of Textiles, will meet with various industry conferences and the Global Business Federation during Textile Week to explore potential business alliances through an investor connectivity program. increase.

Fiber2Fashion News Desk (KD)



India aims to be a priority procurement partner for the global textile industry

Source link India aims to be a priority procurement partner for the global textile industry

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