FDI in textile sector up 91.41% in 2013-14

Signalling a positive shift in investor sentiment in textile industry , the country attracted $198.86 million foreign capital in the sector during April-March 2013-14, up 91.41 percent.

The country had attracted foreign direct investment (FDI) of $103.89 million during April-March, 2012-13.

According to the Textiles Ministry, the FDI inflow in the sector so far stood at $11.70 million during April-May, 2014-15.

"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)," the ministry said.

Other government supported schemes for the sector include schemes for development of technical textiles and schemes for the development of the powerloom sector.

The FDI inflow stood at $164.19 million during April-March, 2011-12.

Major countries contributing to FDI inflows in the country include the United Arab Emirates (UAE), Switzerland, Singapore, Luxembourg, Japan, Hong Kong, Belgium and Australia.