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Foreign companies must invest in India's growing Technical Textile - Anant Kumar Singh

Capital Market 

Secretary, Ministry of Textiles, Mr. said today that the current Indian Technical sector has to develop a lot and this can be done only by more and more Indian and foreign companies investing in this sector.

Mr. Singh said that is one of the biggest producers of whereas, globally the demand for man-made fibre is on the rise. In order to reap the benefits, industries should focus more on man-made goods. "There are various initiatives that government has taken to liberalize the laws regarding investments which will help manufacturers to do in India," he added.

Mr.

Singh further added that TECHNOTEX 2018, will prove to be a turning point in building confidence of Indian and foreign companies to invest in the technical sector in

Dr. Kavita Gupta, Commissioner, highlighted that government has already allowed 100% FDI in the sector and this is an opportunity for foreign companies to invest in

Mr. Varghese Joy, G & Deputy Director General, BIS said that the (BIS) is continuously working on adopting international standards to provide a friendlier environment to the industry.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 17:44 IST
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