Home / Knowledge / News / Textiles / India invites Chinese investment in textile sector
India invites Chinese investment in textile sector
05
Mar '14
Chinese textile companies should consider investing in India, as the country offers several advantages, Ashok K Kantha, Indian Ambassador to China, has said.
 
Ambassador Kantha was speaking at a half-day seminar in Shanghai on “Investing in India’s Textile Sector”, organized by the Embassy of India and the Consulate General of India in Shanghai, in association with the China National Textiles and Apparel Council (CNTAC) and the Cotton Textiles Export Promotion Council of India (TEXPROCIL).
 
In his keynote speech, Ambassador Kantha highlighted the potential for expanding and diversifying textile cooperation between the two countries based on the sound foundation of bilateral textile trade turnover of more than US$ 8 billion in 2013.
 
He referred to the potential catalytic role of textile sector in revitalizing bilateral trade to address the overall problem of India-China trade imbalance, according to an Embassy of India press release.
 
Inviting Chinese textile companies to consider investing in India, Mr. Kantha said India has several advantages to offer, including “a conducive policy framework, competitive and skilled labour, proximity to raw material, and a large and growing market”.
 
In this context, he emphasized investment in India’s existing Textile Parks or setting up new industrial parks, as both India and China promote cluster-type development of enterprises.
 
Mr. Zhang Yankai, vice president of CNTAC, referred to the vibrant cooperation between the two countries in the textile sector and the opportunities to further strengthen it, including through investment by Chinese companies in India.
 
In his detailed presentation, TEXPROCIL chairman Manickam Ramaswami amplified on the specific value proposition offered by India. He encouraged Chinese investors to take advantage of the projected growth of Indian textile industry to $220 billion by 2020, which will generate an additional investment requirement of $68 billion across the textile supply chain.
 
The event was attended by several Chinese textile manufacturers and potential investors from in and around Shanghai, Jiangsu and Zhejiang. The seminar, which coincided with the participation of 60 Indian companies in the Inter textile Exhibition in Shanghai, was followed by a buyer-seller meet.
 

Fibre2fashion News Desk - India


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Lynda Kelly
Suominen Corporation

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search