The prime minister claimed that the foreign investment in India’s textile sector has doubled in the last 10 years.
Prime Minister Narendra Modi on Monday lauded his government’s efforts in building the textile sector in India and vowed to transform the country into a “Global Export Hub”.
While inaugurating the global textile event, ‘Bharat Tex 2024’ at Delhi’s Bharat Mandapam, Modi said, “We have a firm belief that we will transform India into a ‘Global Export Hub’. In the last decade, we have added another new dimension to Vocal for Local. Today, public movements of Vocal for Local and Local to Global are going on in the entire country.”
The prime minister said that textile sector is connected with four important pillars of a “developed India” – poor, youth, farmers and women.
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“We have resolved to transform Bharat into a ‘Viksit Rashtra’ in the next 25 years. Four important pillars of Viksit Bharat are poor, youth, farmers and women. And notably, the textile sector of Bharat is connected with all these pillars,” the Prime Minister said.
Modi claimed that the foreign investments in India’s textile sector has doubled in the last 10 years and praised his government’s consistent efforts in building the industry.
“Today, the Foreign Direct Investment (FDI) in the textile sector has doubled from what it was before 2014,” he said.
“The positive impacts resulting from the efforts of a stable and visionary government on the textile sector can well be seen. In 2014, the valuation of the textile market of India was less than Rs 7 lakh crores, today, it has crossed Rs 12 lakh crores,” the prime minister added.
PM Modi further emphasised the role of Khadi in strengthening the textile sector and women workforce in the industry.
“Out of every 10 garment makers, 7 are women and in handloom, it is even more. Apart from textile, Khadi has also given new strength to the women of our country,” he said, adding Khadi has become a means of both “development and employment.”
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