Textile industry growing exponentially, says Smriti Zubin Irani at 'Vastra'

JAIPUR: The textile industry in the country is growing exponentially with the Foreign Direct Investment (FDI) having tripled in three years. It has touched the figure of USD 618.95 million in 2016-17.

"There is still a huge potential for further growth in the sector for which multifarious efforts are being made by the centre as well as different states," said Union minister Textiles & Information and Broadcasting, Smriti Zubin Irani while inaugurating 6th Edition of the 4-day International Textile and Apparel Fair, 'Vastra' at Jaipur.

"The textile sector employs the 2nd largest workforce in the industry with 45 million Indians directly and 20 million Indians being indirectly employed. However, concerted efforts are being made for creating further avenues by living up to the Prime Minister's vision of 'Make in India'. The Government is providing skill opportunities as well as incentives to give an impetus to the industry. The financial support to the weavers under the 'Mudra Yojna' has documented evidence of increase in income of the weaver to the tune of 50-60%,"said Irani.

This year Vastra has seen the participation of over 250 exhibitors from 13 states, around 300 overseas buyers from more than 50 countries and about 200 representatives from around 100 Indian Buying Houses/Agents. Over the past few years, VASTRA has played a pivotal role in creating a road map of growth for the entire textile and apparel industry of India.

'Vastra 2017' has been jointly organised by Rajasthan State Industrial Development and Investment Corporation Ltd. (RIICO) and Federation of Indian Chamber of Commerce and Industry (FICCI).