Minister of Textiles to lead trade delegation to France & Germany

Thiru. Dayanidhi Maran, Minister of Textiles, is leading a high-level trade delegation to France and Germany from February 01, to February 04, 2010 to attract foreign investment in textiles sector in India.

The comprehensive investment strategy simultaneously involves Thiru. Maran’s vision to convince large global textiles and clothing brands not only to sell in the Indian domestic market, but also set up manufacturing base for their global markets in India.

This is second leg of efforts of ministry of textiles, under the dynamic leadership of Thiru. Dayanidhi Maran to drive investment in India. The Objectives of the meeting major heads of European textiles companies include showcasing vibrant & dynamic business opportunities offered by the Textiles & Apparel Industry, Indian domestic market and manufacturing capabilities in India and to highlight complementarities and synergies between Indo-French & Indo-German companies in availing economic edge of existing opportunities along with setting pace for acceleration of the integration required between textiles companies from India and France & Germany.

Textiles Minister recognizes that in the crowded and mature market of textiles & international fashion, sustained and consistent effort is required to drive foreign direct investment to India leading to greater integration of the Indian textile industry with the global textiles manufacturing system. The deeper integration and creation of international levels of excellence and global positioning is likely to result in higher efficiencies and profitability.

Such a strategy is critical to protect the Indian industry from competition form purely low cost producers of the world such as Bangladesh, Vietnam and others. The Government of India is committed to such long term efforts and ultimate success. The efforts to attract investment in textiles sector reflect, the philosophy of the Minister ‘manufacture in India, sell in India and make money in India’, on the parallels of Thiru. Maran’s investment spell in Telecom Sector with stunning results.

Under the leadership of Thiru. Dayanidhi Maran, the proactiveness shown by the ministry of Textiles has resulted in an increased awareness about the strengths of Indian Textile and Clothing industry. As result many organizations from Switzerland, Italy and Turkey , who interacted with Indian delegation during the first leg are under discussion about either a green field or a joint venture investment with an Indian partner. Simultaneously, many global apparel & textiles companies have initiated higher volume sourcing from India.