‘Make in India’ campaign unveiled to promote textile industry

After completion of the 100 days at the centre, Narendra Modi-led NDA

government has launched a new initiative to promote domestically manufactured products and attract investments. ‘Make in India’ campaign covering 25 sectors, including the textile and garment industry, was unveiled by the Prime Minister in the presence of big names from the corporate world of India and abroad at a ceremony in New Delhi.

At the launch of the ambitious ‘Make in India’ project to make India a manufacturing hub, Prime Minister Modi promised effective and easy governance to help achieve high growth and creation of jobs. The ‘Make in India’ scheme also puts in place the logistics and systems to address in a timely manner queries of potential investors. The scheme has been unveiled along with a logo, a web portal, and brochures on 25 identified growth sectors.

India enjoys being home to 24 percent of the world’s spindles and 8 percent of the world’s rotors. Country is also the second largest producer of cotton and silk, and also the second largest textile manufacturer. Besides this, India enjoys a comparative advantage in terms of skilled manpower and cost of production over other major textile producers, which makes the country a preferred destination for investment.

In the coming years, increased penetration of organised retail, favourable demographics and rising income levels are expected to drive textile demand. Further, pointed and favourable policies instituted by the government are expected to give the industry a fillip. The Government of India allows 100 per cent foreign direct investment (FDI) under the automatic route in the textile sector, subject to all applicable regulations and laws, which effectively backs the Make in India program for the textile and garment industry.

Under the Make in India initiative, investment opportunities for foreign companies and entrepreneurs are available across the entire value chain of synthetics, value-added and speciality fabrics, fabric processing set-ups for all kinds of natural and synthetic textiles, technical textiles, garments, and retail brands.