 Thiru. Dayanidhi Maran, Minister of Textiles will be leading a high level trade delegation to Switzerland, Italy and Turkey from October 26, 2009 to November 03, 2009, to attract foreign investment in the Indian Textiles Sector. The areas identified are, establishment of Green Field Units in textiles machinery, fabric manufacturing, garmenting, manmade fibre and yarn, and bringing investments in technical textiles and clothing brands to Indian domestic market.
Recognizing the importance of foreign investment in textiles sector, the Ministry of Textiles had earlier commissioned a survey to identify countries with potential for investment in India. This study had identified companies in Germany, Switzerland with expertise and potential for investing in Textiles machinery and high-end fabric, and Turkey, Italy and France with potential for investing in garmenting and apparels.
These efforts to attract investment in textiles sector reflect the philosophy of the Thiru Dayanidhi Maran. India has strong domestic market which helped it to survive the world recession. Hence, ‘Come to India, Manufacture in India, Sell in India and Make Money in India’. It is the same philosophy that the Minister
had applied in the Telecom Sector with magnificent results. In order to achieve the desired objectives, it is for the very first
time that the Government and the Industry have synergized their efforts to attract investment in textiles sector. This is reflected in the composition of the delegation, which comprises various captains of the textiles industry.
As a part of Phase -1 of the Road Shows, in Zurich, Switzerland,
the trade delegation will have interaction with major textiles machinery manufacturers like M/s Beninger (Processing), M/s Rieter {(Spinning) (turnover US$3 billion)}}, M/s Jacob Muller {(Warping and weaving machine (turnover US$ 220 million)}, and high end fabric manufactures viz., M/s Weisbrod-Zuerrer Ltd.
In Milan, Italy, the delegation will interact with CEO of M/s Miroglio {(Yarn, fabrics and garments) (turnover US$1.13 billion)}, M/s Marzotto {(High end woolen fabric and suiting) (turnover US$1 billion)}, M/s Gruppo Coin {(Apparel and retail)(turnover US$1.1 billion)}, M/s Vincenzo Zucchi {(Home textiles)(turnover US$245 million)}, M/s Radici Group {(Fibre) (turnover US$1.7 billion)}, M/s Sinterama {(Yarn) turnover US$130 million)}, M/s Zegna {(High-end menswear and sportswear)(turnover US$ 1.3 billion)}.
In Istanbul, Turkey, the delegation will interact with representative of M/s Bilsar (Designing & Production of Shirts) and M/s Yunsa Yunlu san. Tic. A.S {(Woollen and worsted menswear fabric, woolen and cotton fabrics for women wear, home and office
furniture fabric and corporate wear (turnover US$137 million)}.
In the Phase-2, the trade delegation will visit Frankfurt,Germany
and Paris, France from November 23-26, 2009 with a view to
attract investment in technical textiles. It may be recalled that the Government has allowed 100% FDI in textiles sector.India |