India's textile sector growing exponentially, has more potential: Smriti Irani

The textile industry is growing exponentially in the country, with FDI having tripled in three years, Union Minister Smriti Irani said on Thursday.

PTI September 21, 2017 19:05:50 IST
India's textile sector growing exponentially, has more potential: Smriti Irani

Jaipur: The textile industry is growing exponentially in the country, with Foreign Direct Investment (FDI) having tripled in three years, Union Minister Smriti Irani said on Thursday. The FDI flow into the sector reached USD 618.95 million in 2016-17.

However, there is still huge potential for further growth for which various efforts are being made by the Centre as well as states, the textiles minister said after inaugurating the four-day international textile and apparel fair 'Vastra'.

Indias textile sector growing exponentially has more potential Smriti Irani

File image of Union minister Smriti Irani. PTI

The minister further said the textile industry employs the second largest number of people in the industrial sector, with 45 million employed directly and another 20 million getting indirect employment.

She said concerted efforts are being made for creating further avenues by living up to the Prime Ministers vision of 'Make in India'. The government is providing skilling opportunities as well as incentives to give an impetus to the industry. The financial support to weavers under the 'Mudra Yojana' has documented evidence of the increase in income of the weaver to the tune of 50-60 percent.

Irani also appreciated the efforts of the Rajasthan government in making it a garment hub. Rajasthan Industries Minister Rajpal Singh Shekhawat said the state is a prominent textile destination in the country. He further highlighted that Rajasthan enjoys leading position in the production of polyester viscose yarn and synthetic suiting material.

Chief Secretary Ashok Jain said while the value addition and employment generation in this segment is high, the capital required is comparatively low. Promoting garment industry in Rajasthan is important as it is less water consuming.

He added that the sector is also a useful tool to leverage women empowerment as they constitute majority of the workforce in this segment.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

In Bengal, BJP workers celebrating Ram Temple bhoomi pujan clash with police over lockdown restrictions
India

In Bengal, BJP workers celebrating Ram Temple bhoomi pujan clash with police over lockdown restrictions

While BJP accused state govt of "anti-Hindu mindset", TMC MP Saugata Roy said "no harm in celebrations" but everyone must "respect and abide" by lockdown guidelines

Several Jammu and Kashmir BJP workers resign after militant attacks on village-level leaders
Politics

Several Jammu and Kashmir BJP workers resign after militant attacks on village-level leaders

BJP leaders and workers have been provided security and ‘hostel-type’ accommodation has been suggested for members in each district

BJP functionary shot dead during morning walk in UP's Baghpat; Yogi Adityanath orders probe
India

BJP functionary shot dead during morning walk in UP's Baghpat; Yogi Adityanath orders probe

Sanjay Khokhar was the district president of the BJP for three years and was removed from the post before the 2019 Lok Sabha elections