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India mulls mega parks near ports to attract FDI

06
Nov '19
Pic: Shutterstock
Pic: Shutterstock
India is mulling over the idea of setting up around ten integrated mega parks near ports to attract more foreign direct investment (FDI), according to textile secretary Ravi Capoor, who recently told an event organised by the Confederation of Indian Industry (CII) that there has been a ‘very good response’ from state governments on the idea.

Capoor may lead a delegation of manufacturers to Bangladesh in a fortnight to request the country to source fabric from India, as it cannot unilaterally impose a fabric forward policy with the neighbouring nation as it is not covered under the South Asian Free Trade Area (SAFTA), according to a news agency report.

He said there are serious issues regarding India's export competitiveness and the fear of free trade agreements essentially comes down to the fact that India is not so competitive.

Fibre2Fashion News Desk (DS)


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