Home / Knowledge / News / Textiles / India's MMF sector can soon expect 'good news': minister
India's MMF sector can soon expect 'good news': minister
06
Oct '17
Indian textiles minister Smriti Irani during a discussion at the India Economic Summit. Courtesy: World Economic Forum
Indian textiles minister Smriti Irani during a discussion at the India Economic Summit. Courtesy: World Economic Forum
India’s man-made fibre (MMF) sector can soon look forward to ‘good news’ as a inter-ministerial group (IMG) has been formed to suggest measures to maximise its potential, textiles minister Smriti Irani said today while participating in a discussion at the India Economic Summit in New Delhi.

"For the first time...there is an IMG on how to leverage our potential in MMF, how to make rates competitive, and I think you will hear good news very very soon," a news agency quoted Irani as saying. She, however, did not elaborate further.

The three-day summit ending today is jointly organized by the World Economic Forum (WEF) and the Confederation of Indian Industry (CII).

Foreign direct investment into the country's textile sector has gone up three times in the last two years, Irani said.

The textile ministry will assist 401 clusters of weavers out of 800 by offering them financial aid and support through national banks, she said adding that the power-loom sector also needs support despite being at loggerheads with the handloom sector. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: EVG photos from Pexels

Apparel/Garments | On 16th Aug 2018

Bangladesh ups garment export target to $32.689 bn

The Government of Bangladesh has increased the country’s readymade...

Courtesy: PR Newswire

Apparel/Garments | On 16th Aug 2018

Shoppers go to stores for thrifting experiences: Survey

Despite growth in e-commerce, shoppers still head to retail stores...

Pak ministry invests in training textile sector workers

Textiles | On 16th Aug 2018

Pak ministry invests in training textile sector workers

Pakistan’s ministry of commerce and textile industry is offering...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Abhishek Pachauri

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

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Jay Ramrakhiani
Occasions Elegance Wear

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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


August 2018

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

news category


Related Categories:

Advanced Search