Dayanidhi Maran, Minister of Indian Textile Industry, urged investments from the European companies in the Indian textile sector as he expressed in Paris about India being a lucrative place in comparison to China.
Maran asked the executives from the textile industry to Come, come and make money while adding words Come to India, produce and sell here and make money.
Maran visited Turkey, Italy and Switzerland before reaching France and spread the word that in comparison to China, India offers safer space for investments.
We are willing to ensure that India has potential to provide best quality products, copyright protected, in order to provide comfort to investors and make them choose the India over other cities and countries especially China He added.
We wish to divert more investments towards India and not to grab your business, he said further.
Textile Industry of India earned an estimated amount of 62billion dollars from its sales during 2008-2009, among which 35% falls for exports only.
Approx 30% or more export move to European Union countries and rest 30% to US, United States.
Textile minister of India is forecasting extreme rise in the country’s exports within the coming 25years which is estimated to be between 22billion dollars to 90billion dollars.
Maran’s group of delegates will be soon visiting Germany, last stoppage of their tour, after their visit to France.
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[...] be floated with the view of getting good quality accessories and material to strengthen the entire textile industry. Lakshmi Nayak, Handloom and Textile Director explained that much challenges are likely to be faced [...]