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Uzbekistan comes visiting for Indian textile partners
02
Oct '10
Uzbekistan is looking for cooperation from the textile industry of India. This was revealed by the Uzbek Light Industry Minister I. Khaydarov while revealing details of the meeting, which was recently held by PHD Chamber in New Delhi along with the Indian counterparts.

According to him, Uzbekistan is, at present, involved in talks with Ginni International, which is interested in investing on several projects there and also with one more textile major. Besides, it is looking forward to hold discussions with two silk manufacturers from Bangalore.

He is planning to negotiate with five to six Indian textile companies in order to persuade them to invest in projects in Uzbekistan.

The Minister pointed out that in case the Indian companies decide to invest in Uzbekistan then the investment would be directed towards spinning, weaving, dyeing and finishing only. India can, however, go either for joint ventures or set up establishments of their own in Uzbekistan.

He also spoke about an Indian textile company – Spentex, which has been operating in Uzbekistan since the past four years. The company has its own production unit there.

He further added that, a $110 million contract with an Indian textile company is still in process. He said that his country is also going to fund some of these textile projects.

Fibre2fashion News Desk-India

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