With the twin objective of encouraging textile exports in a big way and attracting foreign direct investment, the government of India has plans to set up mega parks close to ports across the country.
This was disclosed by the Union Textile Secretary Ravi Capoor. Since the state governments too need to get involved in such schemes, Capoor says the response the Centre has received from the states is encouraging.
He was addressing a CII event and touched upon the fear among the Indian manufacturers about the Free Trade Agreements (FTA). He said such fear comes from the feeling that Indian companies are less competitive internationally.
The ten mega parks that the government plans to create will be of international standard and will make it easier for the international companies to come and set up their manufacturing facility in these parks and they can export their production being close to the ports. The current stand-off between China and the United States is leading to many multinational companies looking for alternate destinations to set up their manufacturing bases and India must present that alternative to them.
Indian entities wishing to be part of these mega parks can also take advantage. The Textile Secretary said the government hopes Indian textile companies can also create global brands. His ministry appears to be working on these angles as well.
The Textile Secretary also informed the gathering that he is likely to lead a delegation to Bangladesh in the coming days and one of the issues to be brought up there will be to request that country to buy fabric from Indian textile manufacturers. Bangladesh makes a large quantity of garments for global brands and sources fabrics. Capoor touched upon the issue of the fabric forward policy where the buyer of garments /apparel insists on the maker of the garments buying the fabric from him. According to Capoor, India cannot follow such a policy with Bangladesh and it will be taken up during this mission.
Published On : 06-11-2019
Source : The News Minute
