India will advocate to become the preferred sourcing partner of the global textile industry during Textile Week at the India Pavilion at EXPO2020, Dubai, starting Friday.
Minister of State for Textiles and Railways Darshana V Jardoch will virtually kick off ‘Textile Week’ and is expected to invite global investors to invest in India’s textile value chain and make it a preferred sourcing partner. Speaking about the upcoming textile week (November 26 – December 2), she said, âIndian textiles are world famous as they not only represent the country’s brilliant past, but also meet the demands of modern times. India is the world’s second largest exporter of textiles and clothing and is focusing on both quality and scale of production to become the global manufacturing hub and represents a huge opportunity for global investors and buyers. . “
The âTextile Weekâ at the India Pavilion will see many activities including panel discussions on India as a sourcing and investment destination for textiles, as well as the incentive program linked to the production (PLI).
Interestingly, India is recognized as one of the top sourcing destinations for clothing, textiles, and accessories. The share of textiles in India’s GDP is estimated at around 2.3% and is the largest employer, employing around 45 million workers. India’s FDI policy is recognized as the most liberal of the emerging economies, making it possible to invest 100% automatically across the entire textile value chain.
Indian Minister of Trade and Industry, Textiles, Consumer Affairs, Food and Public Distribution, Shri Piyush Goyal, urged the textile industry “to focus on speed, skills and l ‘scale and enter into innovative partnerships’.
The government also recently approved a PLI program worth Rs. 10,683 for domestic technical textile companies and fabric and clothing manufacturers in the man-made fiber segment.
A high-level delegation led by Shri Vijoy Kumar Singh, Additional Secretary, Ministry of Textiles, Government of India, will meet with global business federations as well as various chambers of industry during “Textile Week” to explore potential business links through investor connection programs.
The week will also have a fashion show by the National Institute of Fashion Technology, India.
Besides Vijoy Kumar Singh, these meetings will see the participation of Jay Karan Singh, Trade Advisor, Ministry of Textiles, Dr A Sakthivel, Chairman, Apparel Export Promotion Council, Chandrasekaran Thuvarapalayam Visvanathan, Chairman, Handloom Export Promotion Council, Dhiraj Rai Chand Shah, Chairman , Synthetic and Rayon Textile Export Promotion Board, MA Ramasamy, Chairman, Powerloom Export Development and Promotion Board, Umar Hameed, Chairman, Carpet Export Promotion Board, Sanjeev Dhir, Chairman, Export Promotion Board of wool and wool, 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 President, Jute Products Development & Export Promotion Council and Rakesh Kumar Verma, Director e Executive, Export Promotion Council for Handicrafts and Other Pillars of Industry.
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(With entries from ANI)
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