According to a KMPG report, FDI equity inflow in the Indian textile and clothing (T&C) sector has surged 16 per cent in FY2015-16 over FY2013-14. Major investments (by foreign collaborators and Indian companies) in the sector during April 2014 to March 2016 are also mentioned in the report which include investment worth $51.94 million in Fashion India Private Limited by E-Land Asia Holdings Pte Limited; $37.58 million in Procter & Gamble Home Products Ltd. by Procter & Gamble Home Products Ltd.
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Despite the noticeable gaps in attendance of visitors at the 6-day event of India-ITME held at the BEC in Mumbai, it was the quality of visitors that cheered up the 1,000-odd exhibitors. Most of the exhibitors The ITJ met were concerned with the occasional thin crowds in some of the halls, but were overwhelmed by the fact that they received serious and genuine enquiries.
Thanks to the demonetisation, the Indian textile and apparel industry has lost 30-40 per cent of business. Apparel sale in domestic markets had stopped in the initial days and recovered gradually. Consumers continue to face liquidity tightness, resulting in deferring of purchase.
Textiles in the first six months grew at an average of 1.4 per cent and in the last six months of the FY, it accelerated at an average rate of 3.4 per cent.
A lot of thrust has been given to Government?s ?Make in India? initiative, said RD Udeshi, President – Polyester Chain, Reliance Industries Limited, in keynote address. This was the theme of international textile conference, held by the Textile Association (India), Mumbai Unit on December 1-2, 2016 at Hotel The Lalit, Mumbai.
Surat-based textile manufacturer, Laxmipati Sarees, Siddhi Vinayak Knots & Prints Pvt Ltd is one of the leading manufacturers in polyester saree and women dress material in India. Sanjay Sarawagi (Director) places great value on high-quality products.
Technological upgradation fund scheme (TUFS) was launched in 1999 with the objective of providing credit and capital subsidy to textile and clothing industries to modernise the textile units. This was given to help in enhancing the labour and capital productivity and enhance production of high quality products.