Minister Irani announces at Vastra that FDI in textile industry has trebled

By

Isabelle Crossley

Published
Sep 22, 2017

On September 21, Textile Minister Smriti Irani announced that Foreign Direct Investment (FDI) has trebled in India’s textile industry in the last three years and foresaw future development as she inaugurated Vastra.

Vastra, the international textile and apparel fair held annually in Jaipur, Rajasthan, is currently running from September 21 to 24 at the Jaipur Exhibition and Convention Centre in partnership with the Government of Rajasthan. At the event’s inauguration on September 21, the Indian Government’s Textile Minister, Smriti Irani, gave a speech about the current state of the textile industry in the country. In her talk, Irani stated that FDI has increased three fold in the last three years, an impressive amount. Irani went on to opine that, despite such growth, even more is possible for the near future, especially due to current efforts made by both central and district government.

Many Indian designers are placing more and more emphasis on textiles that are produced in India, especially ones made with traditional methods. Designers such as Anita Dongre are even working directly with handcrafters to ethically produce their textiles. Moreover, the government is prioritising its “Make in India” campaign which seeks to increase domestic textile production. These factors are just some of the reasons that Indian textiles appear to be experiencing a renaissance.

Textile production in Rajasthan, where Vastra is taking place, is currently being promoted as it is an industry that does not use too much water. The government is also providing incentives to boost the industry. In this way, yet more growth seems more than possible for the Indian textile industry.