India Positioning Itself As Textile Sourcing & Investment Hub
India is positioning itself as a textile sourcing and investment hub through the seven PM-MITRA Parks being set up in various states of India at an investment of Rs 70,000 crores and other schemes.
“We are hopeful that these PM MITRA Parks will emerge as growth centres in the textile sector because of foreign investments in the Park and increased sourcing from India,” Textile Secretary Rachana Shah said.
“Thrust will also be given to the emerging sector of technical textiles. Currently India is exporting 2.5 billion worth of technical textiles which will be boosted to $10 billion in next five years,” Shah told The Mint.
India is also organising Bharat Tex 2024, the biggest and a mega textile show in India in February to attract investments in the Indian textile sector, and will showcase the strength of Indian textile sector.
Shah expects over 3,500 exhibitors, over 3,000 international buyers and 40,000 visitors to visit the mega show, which is being organised by various textile bodies supported by the Textiles Ministry.
