India Textile Industry Intends To Make Use Of Foreign Capital For 8 Billion Years In 5 Years
India's Economic Times quoted a senior official from India's textile Ministry as saying that the Ministry of textile and textile industry has set the target of attracting 8 billion yuan (400 billion rupees) into the textile and garment industry in the next 5 years. For this reason, the Department is preparing to organize a group to search for potential investors in Europe, the United States and China, and is also developing incentive plans to attract investors to invest in factories in India. The Ministry will also invite private investment funds and foreign banks to invest in India's domestic textile industry with an investment target of 10000 billion rupees (US $20 billion). In addition, it will attract foreign design companies and garment manufacturers to India, and will establish textile supply chains in many cities, and build "textile and garment integration centers" in many countries. The long-term goal is to build India into a "global retail chain of textile procurement hub".
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