Expo 2020 is being held in Dubai from November 26 to December 2, 2021. India is pitching for becoming the preferred sourcing partner for the global textile industry during the event. Global investors are being invited to invest in the Indian textile value chain and make it a preferred sourcing partner. The Textile Week at the India Pavilion sees many activities including roundtable discussions on India as a sourcing and investment destination for textiles along with the production linked incentive scheme. This scheme is aimed at domestic technical textile firms and manufacturers of fabrics and apparel in the manmade fiber segment.
India is the world’s second largest exporter of textile and clothing and focuses on both quality and scale of production to become a global manufacturing hub. India is recognized as one of the best sourcing destinations for garments, textiles and accessories. The textile share in India’s GDP is estimated at around 2.3 per cent and it is the largest employer, employing about 45 million workers. India’s FDI policy is recognized as the most liberal in emerging economies, which allows 100 per cent investment under the automatic route in the entire textile value chain. The textile industry has been encouraged to focus on speed, skill and scale and get into innovative partnerships.