Int. textile and apparel fair to generate Rs.10,000 cr investment

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SME Times News Bureau | 04 Oct, 2013
With the inauguration of the international textile and apparel fair in Rajasthan, the textiles industry of the state is expecting fresh investment of Rs.10,000 crore over the next seven years due to the state's new textile policy announced recently, said Industries Minister Rajendra Pareek Thursday.

"A few years back, textiles industry in Rajasthan was languishing and that is when, under the guidance and vision of our chief minister (Ashok Gehlot), the state machinery went into 'mission mode'," Pareek said at the inauguration of the 'Vastra-2013' international textile and apparel fair.

"Today, because of innovative schemes, textiles-friendly policies and infusion of new technologies, the industry has been resurrected and is headed for an upsurge."

The textile fair is jointly organised by the Rajasthan State Industrial Development and Investment Corporation (RIICO) and the Federation of Indian Chambers of Commerce and Industry (FICCI).

The state government has adopted a new textile policy under the special customised package, 2013, which was cleared by the state cabinet in July for skill development, manufacture and export promotion in the textile sector.

With the roll-out of the special package, an investment of Rs.10,000 crore over the next seven years is expected in the state along with employment opportunities for about 50,000 people.

RIICO chairman Sunil Arora said that the decision to organise 'Vastra' fair was a leap of faith which had paid off.

"Rajasthan has emerged as a major territory in the textile sector in the country and this is reflected in the turnout at 'Vastra 2013'. All textile majors from the state are here and 421 buyers have confirmed their presence from 66 countries," Arora told the gathering.

Last year, business worth USD 61 million was facilitated through the fair. This year, it is expected to be much higher.

Business persons from more than 66 countries, including Uruguay, Colombia, Brazil, Lebanon, Slovenia, the US, the UK, Australia, Switzerland, Denmark, Egypt, Turkey, Korea, Italy and China, are visiting the event.