India looks to strengthen ties with ASEAN countries to boost textiles sector

By

Maverick Martins

Published
Jan 24, 2018

India is looking to foster ties with ASEAN (Association of Southeast Asian Nations) by inviting them to make in India in order to give a fillip to the textile and apparel sector.
 

ASEAN, which comprises of countries like Thailand, Indonesia, Singapore, Brunei, Laos, Myanmar, Cambodia, Malaysia, the Philippines and Vietnam already, contributes significantly to the revenues of textile manufactures from India.
 
In the year 2016, India’s textile and apparel exports to these countries was around Rs 7661 crore (approx $ 1203 million) while its imports from the same estimated around Rs 3477 crore ($ 546 million).

India now wants to be a one-stop sourcing destination for these countries with the textiles minister Smriti Irani extending an invitation to them at the India-ASEAN Weaving Textiles Relations conference to invest in the country to meet domestic needs and boost exports.
 
“India has potential to become the one-stop sourcing destination for brands and retailers from ASEAN as opportunities exist for textile manufacturers from the 10-nation bloc to invest here and cater to the domestic market as well as exports”, Textiles Minister Smriti Irani was quoted as saying by a news agency.
 
“With ability to produce a diverse range of products, India has the potential to become the one-stop sourcing destination for brands and retailers of ASEAN nations. India has strengths in production and exports of almost all kinds of textiles and apparel including all handloom and handicraft products that demonstrate the unique skills of the country's weavers and artisans”, she added.