FDI In Textiles Rose Three Times In Last Two Years, Says Textiles Minister Smriti Irani Smriti Irani

Foreign direct investment into the country’s textile sector has gone up three times in the last one-and-a-half to two years, resonating the confidence of foreign investors in the industry, Union Minister Smriti Irani said today (6 October).

The textile minister asserted that the country’s man-made fibre sector can soon look forward to “good news” as an inter-ministerial group (IMG) has been formed to suggest measures to maximise its potential.

However, she did not elaborate on the details.

“For the first time…there is an IMG on how to leverage our potential in MMF (man-made fibre), how to make rates competitive, and I think you will hear good news very very soon,” Irani said in a discussion at the India Economic Summit.

The summit is organised by the World Economic Forum in partnership with CII. (PTI)

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement