Textile exports to rise from around US$ 17bn last year
03 Jul '06
4 min read
CRISIL Infrastructure Advisory, the consulting arm of CRISIL Limited, recently organised a seminar 'Spurring investment growth in textiles through foreign direct investment (FDI) - Needs, issues and challenges' in Mumbai aimed at facilitating future policy making in this direction and bringing forth a perspective to the industry on the ingredients of successful joint ventures, structuring arrangements and how they can benefit from increased FDI.
Key speakers at the seminar included Smt. Asha Swarup, Hon'ble Additional Secretary and Financial Adviser, Ministry of Textiles, Government of India, Mr. J. N. Singh Commissioner, Textiles, Government of India, Mr. Vivek Jacob, CEO, Carrera Holdings Inc. (Italy), Mr. Michael Rechsteiner, COO, Sultex Limited (Switzerland), Mr. Bill Mills, MD, NW Texnet (UK), Mr. Pradeep Bhandari, Group President, Raymond Limited, Mr. Sanju Shishodia, Head, CRISIL Research and Mr. K Raghuram, Head, CRISIL Infrastructure Advisory. Mr. David Wyss, Chief Economist - USA, Standard and Poor's joined in with his comments on the global economy, growth and why India would be a preferred investment destination.
Speaker after speaker re-iterated the need for foreign direct investment in the textile sector. India, which currently is at the cusp of a demographic boom, will see a humungous demand for several lifestyle goods. Textiles stand to gain the maximum from the domestic market opportunity, and the local market presents a fantastic opportunity for foreign investors.
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