Govt to encourage PEs in textile sector: Mr Sajjan Jindal

August 13, 2008 (India)

Underlining the need of fresh investment in capacity expansion, modern technology and machines, The Associated Chambers of Commerce and Industry of India has suggested entry of the global manufacturers and private equity funds in Indian textile sector to invest in partnership with the small-scale textile units based in India.

Textile sector, victimized by strong Rupee, is suffering from rigid labour laws, technology obsolescence, fragmented structure, infrastructure constraints and lack of iconic brand which has disabled its growth potential and competitiveness in international market, an ASSOCHAM report on `Indian Textiles Sector’ has stated.

“Government should provide appropriate fiscal incentives to the parties interested in investing in textile and clothing to enhance the attractiveness of the sector”, said ASSOCHAM President, Mr. Sajjan Jindal.

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