By NNN-PTI
Dubai : UAE investors are keen to invest in India’s textile sector where the government is giving many incentives including 100 per cent equity allowed in SEZs, a senior Indian minister said.
“We got a very positive response from potential investors,” Union Textiles Minister Shankersinh Vaghela, who is leading a delegation of textile ministry and industry on a four-nation tour of Turkey, Greece, Egypt, and the UAE, said at a press conference here.
Insisting that the “Made in India” brand had better credibility than Chinese products, he said the Gulf region held immense potential for Indian textile exports.
“There is no point comparing Chinese textiles with Indian goods. We cannot compete with the Chinese in terms of price but the brand credibility of Indian products is better across the world,” Vaghela said last evening.
With Indian government taking series of initiatives to boost textile exports, the Gulf region could emerge as an important destination for Indian manufactures, according to Vaghela.
“There is a lot of scope for the export of Indian textile and related goods in the Gulf countries as till now India is exporting its two third textile products to the US and European countries,” he added.
At present, India’s textile and garment exports to the UAE total USD1.068 billion out of the total USD12 billion exports to the country. While India’s total textile exports were USD19 billion.
The minister said the delegation had fruitful talks with government leaders, local business representatives and members of the Indian textile community in Dubai.