New Delhi, July 16 (ANI): Union Textiles Minister Dayanidhi Maran will lead the joint trade delegation of textiles sector to Japan on July 20.
The seventeen-member delegation comprises the representatives of the Apparel Export Promotion Council (AEPC), The Cotton Textiles Export Promotion Council (TEXPROCIL), the Synthetic and Rayon Textiles Promotion Council (SRTEPC), the Knitwear Technology Mission, and leading textiles manufacturers and exporters from Tirupur and Coimbatore textiles clusters.
During his visit, Maran will inaugurate the Indian Pavilion at the Japan International Fashion Fair (JIFF), known as Mega Apparel and Textile Show, at Tokyo, Japan on July 22.
The Fair will run till July 24, and 44 Indian textiles and clothing exporters have booked 50 stalls. The AEPC along with the SRTEPC and the TEXPROCIL are participating in the Fair.
With a view to diversify the textiles and clothing exports and reduce dependence on USA and EU 27, the Government is promoting exports to South East Asia under its 'Look East Policy'.
An important component of this policy is to attract of Foreign Direct Investment (FDI). Japan is one of the biggest consumers of textiles and clothing, but India has very negligible market share of 1.12 per cent in Japanese import basket.
To further these objectives, during his stay in Tokyo, Maran will address a business meeting hosted by the Japan-India Business Cooperation Committee (JIBC) and will use this platform to solicit investment in Indian textiles sector, where 100 per cent FDI is permissible.
The Indian Government is conscious of the fact that textiles industry needs modernization and there is huge scope for Japanese investment to upgrade spinning, weaving, processing and garmenting facilities.
The Government is making serious efforts to attract investment in this important segment of national economy. This interaction is part of series of interactions, which Maran has conceptualized as part of Government efforts to modernize Indian textiles industry and explore new markets for Indian textiles and clothing exports.
In addition, Maran will meeting Takeo Yamaoka, Chairman , JUKI Corporation , the largest sewing machine manufacturer and Akira Onishi, Chairman , Kirloskar Toyota, the leading Japanese textiles machinery manufacturer. (ANI)