SME Times News Bureau | 24 Nov, 2021
will pitch for becoming the preferred sourcing partner for the global
textile industry during the textile week at the India Pavilion in
EXPO2020, at Dubai, starting on Friday, the 26th Nov, 2021 .
State for Textile Darshana V Jardosh will
inaugurate the ‘Textile Week’ virtually and is slated to invite the
global investors to invest in the Indian textile value chain and make it
a preferred sourcing partner.
Talking about the upcoming textile week
(26th Nov – 2nd Dec), Smt. Jardosh said, “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 immense opportunity for global investors and buyers.”
‘Textile Week’ at India Pavilion will see 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
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.
Union 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.’
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.
high-level delegation led by Shri Vijoy Kumar Singh, Additional
Secretary, Ministry of Textiles will be meeting global business
federations along with various industry chambers during the ‘Textile
Week’ to explore potential business tie-ups through investor connect