Home / Knowledge / News / Apparel/Garments / GEA hails govt decision to allow FDI in multibrand retail
GEA hails govt decision to allow FDI in multibrand retail
17
Sep '12
Mr Rakesh Vaid, President, Garments Exporters Association (GEA) has welcomed the decision of the Government to allow Foreign Direct Investment in Multi-Brand Retail and to relax rules for single brand retail stores which would certainly improve the sentiments and image of the Indian economy among the foreign investors.

Mr Vaid pointed out that this is one of the boldest and much-needed reform that the Government has initiated inspite of visible compulsion of a coalition Government and with inevitable pulls and pressures of the opposition parties.  He hoped that this would encourage big surge in Foreign Direct Investment in back-end operations and infrastructure for the modern retail stores.

This positive and timely initiative of the Government will attract more and more FDI and give a much-needed boost to the Indian economy. The Textile and Clothing Industry will be getting much-needed FDI and modernization of the industry will take place at faster pace and will make us more competent and competitive in the International Market and also encourage our exporters particularly of textiles and garments as they will integrate with major global retail supply chains.

“Retail sector which is fragmented and needs fresh technological inputs in retails sales management and more over there are no price rationale at all people charge depending on location and client and once established mass retailers open their shops than we will see an honest price war of offering the best to consumer and consumer will be the ultimate beneficiary and " consumer will be King ", said Mr Vaid.

Mr Vaid expressed the hope that the States will respond positively to this policy initiative, as they have been allowed to take a final decision on FDI in multi-brand retail to encourage retail revolution in the Country, for the overall benefit of the Indian Economy.

In a growing economy like ours, various conflicts between national and sectional and Central and State interests have to be addressed keeping in mind the Government’s commitment to its declared objectives of inclusive economic growth with employment generation.   The sooner we open our retail sector better it will be, stated Mr Vaid.

Garments Exporters Association (GEA)


Must ReadView All

Egypt’s textile exports increase 3% in 10 months: TEC

Textiles | On 21st Nov 2017

Egypt’s textile exports increase 3% in 10 months: TEC

Exports by Egypt’s Textile Export Council (TEC) between January and...

UKFT turns sector skills body for UK fashion, textile sector

Textiles | On 21st Nov 2017

UKFT turns sector skills body for UK fashion, textile sector

The UK Fashion & Textile Association (UKFT) recently announced at a...

Pakistan’s textile exports up 7.72% in July-Oct ’17

Textiles | On 21st Nov 2017

Pakistan’s textile exports up 7.72% in July-Oct ’17

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search