FDI Of Nearly $200 Bn In Textile Sector In 2013-14

NEW DELHI: Foreign direct investment (FDI) of $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 $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 $36.69 billion worth during 2013 from $32.88 billion in 2012 -- up 11.58 percent.

The country had shipped textile, clothing and handicrafts worth $34.93 billion during April-March, 2012-13.

READ MORE: Top 5 Richest Indians Have Half Of Nation's Billionaire Wealth