Home Retail FDI in textiles more than doubled to US $619 mn in 2016-17

    FDI in textiles more than doubled to US $619 mn in 2016-17

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    Foreign direct investment () in textile sector more than doubled to US $618.95 million during 2016-17 from US $230.13 million in the previous fiscal, Parliament was informed on Thursday.

    FDI in textiles more than doubled to US 9 mn in 2016-17
    In a written reply to Lok Sabha, Minister of State for Textiles Ajay Tamta said during the first two months of current fiscal, the sector received US .41 million foreign inflows

    According to a PTI report: In a written reply to Lok Sabha, Minister of State for Textiles said during the first two months of current fiscal, the sector received US $21.41 million foreign inflows.

    He also said textile exports during 2016-17 too rose to US $36 billion from US $23.9 billion in the previous financial year.

    In a separate reply, he said in rupee terms export of textiles and garments increased by 3.2 per cent in 2016-17.

    With a view to enhance investment, production and export of the textile industry, the Government has launched a Rs 6,000-crore package for apparel and made-ups segments, he added.