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Chinese dyestuff makers eye Gujarat to set up plants
05
Dec '15
Shi Xianping
Shi Xianping
Alongside seeking new buyers, Chinese dyestuff producers who are participating at the Asian Interdye 2015 trade show being held in Ahmedabad, India, are also looking at investing in setting up production facilities in Gujarat.

Shi Xianping, president of China DyeStuff Industry Association exclusively told Fibre2Fashion that the members of the trade body were also seeking investment opportunities to set up production facilities in Gujarat, alongside promoting products to Indian buyers at the show.

On the first day of the trade show, the members of the association met a senior Gujarat government official, Dr Chandan Chatterjee, who explained the investment policies of the Gujarat government and also the Government of India.

Xianping was of the view that the policies were very good, which included tax breaks, power subsidies, etc. He however was not clear whether these policies were meant only for Indian investors or foreign investors also.

But, he shared his opinion by saying that if these incentives were extended to them too; India would prove to be an attractive and favourable investment destination for setting up plants for the Chinese dyestuff manufacturers.

"Additionally, India is currently the fastest growing economy in the world, which indicates a bright future for the country and also gives investors a positive outlook towards investing in India," he informed.

Giving reasons for organising the show in India, Xianping said, "We want to promote our products in India, since India is the second biggest producer of textiles and also dyestuffs in the world. However, while India is stronger in production of Reactive dyes, China is strong in Disperse and other dye products. So, while China exports Disperse dyes to India, it is also a big importer of Reactive dyes from India."

According to the president of the trade body, just one day in to the show, almost all exhibitors have lauded the way the trade show has been organised and who also said that they met many existing and new customers and are happy with quality and numbers of buyers who visited their stalls.

In order to clear the doubts raised by Xianging with regards to the investment policy, Fibre2Fashion also spoke to Dr Chandan Chatterjee, who said, "I would like to assure the president of the association that the investment policies of Gujarat state as well as the Indian government are applicable to Indian as well as foreign investors under FDI policy of the Government of India as per Reserve Bank of India guidelines or they can form a company in Gujarat as per the Company's Act while applying for the incentives or for getting space in Industrial Parks, etc.

In order to provide more assurance and confidence to the Chinese dyestuff producers, he cited the MoU signed recently in May 2015 between the Gujarat government and the China Small and Medium Enterprise Investment Ltd (CSMEI) to set up a Textile Park near Sanand, Gujarat. (AR)

Fibre2Fashion News Desk – India


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