Saturday, Apr 20, 2024 | Last Update : 04:47 AM IST
FDI in textiles doubled to $619 million in 2016-17
Textile exports during 2016-17 too rose to USD 36 billion from USD 23.9 billion in the previous financial year.
New Delhi: Foreign direct investment (FDI) in textile sector more than doubled to USD 618.95 million during 2016-17 from USD 230.13 million in the previous fiscal, Parliament was informed on Thursday.
In a written reply to Lok Sabha, Minister of State for Textiles Ajay Tamta said during the first two months of current fiscal, the sector received USD 21.41 million foreign inflows.
He also said textile exports during 2016-17 too rose to USD 36 billion from USD 23.9 billion in the previous financial year. In a separate reply, he said in rupee terms export of textiles and garments increased by 3.2 per cent in 2016-17.
With a view to enhance investment, production and export of the textile industry, the government has launched a Rs 6,000-crore package for apparel and made-ups segments, he added.
