India Encourages Private Capital To Enter The Textile Industry To Enhance Competitiveness
India Federation of Commerce and industry said that India textile industry needs new investment to expand production and upgrade technology and equipment. The chamber of Commerce recommends that global manufacturing and private equity funds be allowed to invest in India textile industry, especially small and medium-sized textile enterprises.
The India textile industry is in a predicament because of the rupee appreciation, technological degradation, structural decentralization, backward infrastructure and lack of trademark. Now, India textile industry does not have the potential for development and is unable to participate in the competition in the international market.
SajjanJindal, President of India Federation of Commerce and industry, said the government should formulate incentive policies to attract all parties to invest in the textile and garment industry and enhance the competitiveness of the textile and garment industry.
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