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 said.
According to a PTI report: Addressing a conference here, the minister said 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.
“In the year 2016, India exported textiles and apparel worth US $1,203 million to ASEAN and imported textiles and apparel worth US $546 million from ASEAN,” Irani was further quoted by PTI as saying, adding that this is just a monetary testimonial to how we can go forward.
“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,” the minister highlighted.
She said there exists an opportunity for India to attract textile manufacturers of ASEAN nations to invest in manufacturing in India to cater to both domestic market within the country and the export markets across the world.
“I am hopeful that this is just one of the many areas where we can participate and leverage our strengths,” Irani was quoted by PTI as saying.
Addressing a seminar on India-ASEAN Weaving Textiles Relations’, Irani said she is hopeful that the programme is the beginning of a new era in the textiles sector.
“A new friendship (referring to India-ASEAN relations) that we can forge to ensure that we give better manufacturing opportunities, better wage opportunities and also help strengthen our legacies in the handloom and handicraft sectors,” minister told PTI.
ASEAN (Association of Southeast Asian Nations) is a multilateral body whose member countries include Thailand, Indonesia, Singapore, Brunei, Laos, Myanmar, Cambodia, Malaysia, the Philippines and Vietnam.