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UAE investments to help India’s textile sector

Aug 25, 2021
UAE investments to help India’s textile sector

New Delhi

India’s textiles sector has been attracting a lot of investment from the UAE as the country is trying to promote the exports of handloom textiles in the next 3 years.

According to an announcement, to double the production of handlooms and boost exports, the Ministry of Textiles is planning to come up with a high-level, eight-member experts’ committee who will prepare a roadmap related to achieving the said targets. This committee will be headed by Sunil Sethi, Chairman, Fashion Design Council of India.

UAE has been able to make investments amounting to $23.09 million in India’s textile sector in the last 5 years, according to the Ministry. The chart of investors from the GCC in the textile sector has been topped by the UAE followed by Oman and Qatar.  The ministry has also announced that the government is releasing funds worth Rs 1.25 billion for 8 Centres of Excellence in textile research across the country.

As per the statement released by the ministry, 10 new Handloom Design Resource Centres will also be set up by the National Institute of Fashion Technology (NIFT). The objective of these centres will be to create design-oriented excellence in handlooms so that exports can be facilitated.

As per Darshana Jardosh, The Minister of State for Textiles, handlooms represent the rich culture of the country and this sector offers employment to 70% of women.

Source – Emirates News Agency

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