Textile sector is growing with FDI having tripled in 3 years: Smriti Irani

Union Textiles Minister Smriti Irani and Rajasthan Chief Minister Vasundhara Raje inaugurated the 6th edition of the four-day international textile and apparel fair, 'VASTRA' in Jaipur.

While speaking at the event, Irani said that the textile industry in the country is growing exponentially with the foreign direct investment having tripled in the last three years. Though FDI had touched 618.95 million U.S. dollars in 2016-17, there is still a huge potential for further growth, Irani said.

The minister further said the textile industry employs the second largest number of people in the industrial sector, with 45 million employed directly and another 20 million getting indirect employment. However, concerted efforts are being made for creating further avenues by living up to the Prime Minister's vision of 'Make in India'. Irani also appreciated the efforts of the Rajasthan government in making it a garment hub.

About VASTRA 2017:

VASTRA 2017 is an all-encompassing trade fair and conference on Textiles and Apparel presenting a fusion of the finest and the latest in textiles products. The event is jointly organized by Rajasthan State Industrial Development and Investments Corporation Limited and Federation of Indian Chamber of Commerce and Industry and is supported by the Government of Rajasthan. More than 50 countries and 13 Indian States are participating in VASTRA 2017.