To attract leading international retailers for sourcing their garment and home textiles requirements from India, the Consolidated FDI Policy Circular 2020 provides 100% FDI in Single Brand Product Retail Trading and upto 51% FDI in Multi Brand Retail Trading, subject to certain conditions.
India Bangladesh Textile Industry Forum (IBTIF) has been institutionalized in order to work out annual sourcing plans under ‘Fabric Forward Policy’ initiative. The 1st meeting of IBTIF was held on 4-5 February, 2020 under the leadership of Secretary (Textiles).
Ministry of Textiles has conducted a Symposium with Textile Export Promotion Councils and other industry stakeholders for finalizing a list of potential textiles and apparel export products for which exports can be enhanced. The list of potential export products were shared with the Indian Missions abroad for identification of potential buyers in the respective countries.
This information was given in a written reply by the Union Minister of Textiles, Smt. SmritiZubinIrani in Lok Sabha today.
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BY/TFK