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FDI in textile industry tripled in three years: Smriti Irani

Union Minister Smriti Irani at the international textile and apparel fair ‘Vastra’ in Jaipur on Thursday.PTIPTI

Union Minister Smriti Irani at the international textile and apparel fair ‘Vastra’ in Jaipur on Thursday.PTIPTI  

‘There is still a huge potential for further growth’

The textile industry in the country is growing exponentially with the foreign direct investment having tripled in the last three years. Though FDI had touched 618.95 million U.S. dollars in 2016-17, there is still a huge potential for further growth, Textiles Minister Smriti Irani said here on Thursday.

Concerted efforts

Inaugurating the sixth edition of the international textile and apparel fair, “Vastra-2017”, at Sitapura industrial area here, Ms. Irani said concerted efforts were being made for creating employment opportunities in the textile sector. “The Union government is providing skilling opportunities as well as incentives to give an impetus to the textile industry,” she said.

The textile sector employs the second largest workforce in the country, with 4.5 crore people directly getting livelihood from it and 2 crore people being indirectly employed.

Garment hub

The Union Minister praised the Rajasthan government's efforts to create a garment hub in the State. She said the Jaipur Designers Festival being held in “Vastra-2017” for the first time would provide the younger generation with an exposure to the world of fashion and designing.

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