Minister of Textiles invites Japanese investment to India

Mr. Dayanidhi Maran, Minister of Textiles has invited the Japanese textiles industry to collaborate with Indian textiles industry in manufacturing of fabric and garmenting, setting up of green field units in textiles machinery, manmade fibre and yarn and create brand equity with Indian apparel companies. After the inauguration of Indian Pavilion at Japan’s premier International Fashion Fair earlier, Mr Maran was addressing Business Meet hosted by the Japan -India Business Cooperation Committee (JIBCC) on “Current status of Growing Textiles Industry and investment opportunities” in Tokyo today. Mr Yoshihiro Watanabe, Chairman JIBCC, Mr Eiichi Ono, Vice Chairman, the Standing committee of JIBCC and Mr Hideaki Suzuki, Secretary General, JIBCC welcomed Mr Dayanidhi Maran, Mr Hemant Krishan Singh, Ambassador of India to Japan and official delegates.

During the interaction with the top fifty Japanese businessmen, which included many from textiles industry, the Mr Maran apprised them of various advantages in investing in India, particularly, in textiles sector, which has a highly skilled workforce, high capital-employment ratio and immense potential to promote employment,and a strong and diverse raw material base. India is the largest producer of Jute, second largest producer of Cotton and Man-made fibre and yarn, and third largest producer of Silk. India has a vertical and horizontal integrated textiles value chain, and represents a strong presence in the entire value chain from raw material to finished goods. The average labour cost in India is US$ 0.7 per hour compared to US$ 20 per hour in Japan, the Minister added.

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