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Govt to ease curbs on FDI in luxury sector, Shri Nath

29 Mar '08
3 min read

Migrants from Gujarat have established a potters' colony, and tanners from Tamil Nadu have migrated to Dharavi and set up a flourishing leather tanning industry. Other artisans, like the embroidery workers from Uttar Pradesh, started the ready-made garments trade. The 15,000 odd one-room factories, at Dharavi manufacture products worth nearly 500 million dollars every year, a large proportion of which are exported.

“My simple point of showcasing Dharavi is this: the skills of these artisans, and millions of others living in different pockets all over the country – can, and should be, effectively used by the global luxury players to develop their own low cost manufacturing bases. To be sure, quality could be an issue in the short term. But I am sure with the right environment and training, Indian artisans can work with European companies and develop world-class products for customers all over the world, he added.

As regards FDI in luxury sector, Shri Kamal Nath stated that India is keen to encourage the entry of foreign investment in the luxury sector to offer more choices to the Indian consumer. But the Government of India would like to facilitate this entry, at a pace that does not put local manufacturers and unorganized retailers at a risk.

Press Information Bureau Government of India

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