New Delhi: Foreign direct investment (FDI) of USD 199 billion was made in India`s textile sector in the financial year 2013-14, government data shows.
Thereafter, for the period April-May 2014, the country`s textile sector attracted FDI worth USD 11.70 million, according to the textiles ministry.
"The government is implementing various schemes to ensure the maximum utilisation of FDI in textile sector like Technology Upgradation Fund Scheme (TUFS), Scheme for Integrated Textile Parks (SITP), Integrated Skill Development Scheme (ISDS), Scheme for development of Technical Textiles, and Schemes for the development of the Powerloom Sector etc." the ministry said in a statement here.
Signalling a positive shift in India`s textile export, the country shipped USD 36.69 billion worth during 2013 from USD 32.88 billion in 2012 -- up 11.58 percent.
The country had shipped textile, clothing and handicrafts worth USD 34.93 billion during April-March, 2012-13.
Exports of clothing and textiles roped in foreign currency inflows of USD 35.42 billion during April-May, 2014-15, up 12.75 percent from USD 31.62 billion during 2012-13.
Figures obtained from Foreign Trade Statistics of India and Directorate General of Commercial Intelligence and Statistics (DGCI&S), Kolkata, the exports of clothing and textiles stood at USD 32.94 billion in 2011-12.
Statistics from Global Trade Information Service showed that China`s textile exports grew to USD 274.05 billion during 2013 from USD 246.12 billion during calendar 2012.
European Union`s textile exports grew to USD 56.11 billion from USD 53.057 billion and the US`s USD 26.76 billion from USD 26.56 billion in the like period.
The textile ministry said the government is helping the industry by exploring new markets by holding exhibitions in the Russian Federation, Israel, Eastern Europe, Latin American countries and other non-traditional markets.
"The government is providing grants under market access initiative and market development assistance scheme for this purpose," the ministry said.
