Source: Textile Review


The Indian authorities believe that the technical textile sector is another potential area for foreign investment due to the rapid growth of the demand for industrial and technical textiles in the nation. The sector is targeting US$ 6 billion foreign direct investment (FDI) by 2015 to be invested in textiles machinery, fabric and garment manufacturing, as well as technical textiles. The expected growth of Indian textiles industries will be worth about $220 billion by in the year 2020.


The investment scenario is becoming rise day by day, India is a growing source of supply of textiles and apparel to the world market, the exports are growing rapidly as more and more buyers around the world turn to India as an alternative to China. India has enormous opportunities to expand their share in Textiles and Apparel industries. International scenario does indicate favorable business atmosphere in India, FDI Inflows to Textiles industry in India enhanced the growth of the sector. India has been known for its textiles all over the world. The Indian textile industry contributes about 14 % to industrial production, 3 % to the country's Gross Domestic Product (GDP) and 27 % to the country's total foreign exchange.

 

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Originally published in Textile Review, Dec-2010


About the Authors:


S. Venkatachalam is an Assistant Professor with Dept. of Management Studies, Karpagam College of Engineering, Coimbatore, S. Kavitha is a Ph.D Scholar in School of Commerce & Management, Karpagam University, Coimbatore and Dr. P. Palanivelu is Controller of Examinations, Karpagam University, Coimbatore.