INDIA TO LOOK FOR INNOVATIVE PARTNERSHIPS AT EXPO 2020 TO BECOME PREFERRED SOURCING PARTNER FOR GLOBAL TEXTILE INDUSTRY

India will pitch for becoming the preferred sourcing partner for the global textile industry during the textile week at the India Pavilion in Expo 2020, Dubai, starting on Friday.

Minister of State for Textile & Railways 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 (26 November to 2 December), she shared, “Indian textile is world-renowned. 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 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 recognised as one of the best sourcing destinations for garments, textiles, and accessories. India’s FDI policy is recognised as the most liberal in emerging economies, which allows 100% investment under the automatic route in the entire textile value chain’. A high-level delegation led by Vijoy Kumar Singh, Additional Secretary, Ministry of Textiles, GoI, will meet global business federations and various industry chambers to explore potential business tie-ups through investor connect programmes.