Chennai: Dayanidhi Maran, Union Textile Minister said on Tuesday that Textile sector of India will be getting direct foreign investment up to the amount of Rs 25,000crores for the coming five years. He explained to the reporter at Quiad-e-Milath College of Women after the inauguration of National Handloom Expo there. Government is stepping ahead with strong initiatives in this direction, he added.
Handloom week is being celebrated by the Textile Ministry since 21st December for the promotion of handlooms and improvement of livelihood of the textile weavers, he said.
Handloom Expos have been arranged at more than 22 cities around the country with the expectation of 3 to 4crores revenue from each exhibition. At Kancheepuram, proposal for integrated textile park is being formulated as another step towards progress, he said. The minister added that, ‘Chief Minister Mr. M Karunandihi is likely to give dates to lay foundation, we are waiting for them’.
Expo is organized for featuring handloom products that includes everything from Chettinad Sarees to Pochampally Silk Sarees and West Bengal’s famous handloom material. Around 30% discount is offered by government at the expo that is likely to continue till 4th January.
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