;
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

ILO, Sweden to promote decent work in Asian garment sector

Apparel/Garments | On 19th Dec 2018

ILO, Sweden to promote decent work in Asian garment sector

The Swedish International Development Cooperation Agency (SIDA)...

Courtesy: Ikea

Apparel/Garments | On 19th Dec 2018

Ikea to generate 10,000 jobs in Maharashtra over 3 yrs

Swedish furniture company Ikea is planning to hire 10,000, both...

ADB retains India's growth forecast at 7.3% for 2018-19

Textiles | On 19th Dec 2018

ADB retains India's growth forecast at 7.3% for 2018-19

The Asian Development Bank (ADB) has retained its India gross...

Interviews View All

Rahuul Jashnani, Jashn

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Mala Alwani,

Mala Alwani

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

Lin Jing,

Lin Jing

Jiangsu New Victor is a Chinese mechanical equipment manufacturing...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

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

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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


December 2018

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

news category


Related Categories:

Advanced Search