Union textile minister Dayanidhi Maran has invited the Japanese textiles industry to collaborate with Indian counterparts in manufacturing of fabric and garmenting, setting up of greenfield units in textiles machinery, man-made fibre and yarn and create brand equity with Indian apparel companies.
Maran was addressing the business meet hosted by Japan -India Business Cooperation Committee (JIBCC) on current status of growing textiles industry and investment opportunities in Tokyo on Wednesday.
During the interaction with the top 50 Japanese businessmen, which included many from textiles industry, Maran apprised them of various advantages in investing in India, particularly, in textiles sector, which has a highly skilled workforce, high capital-employment ratio and immense potential to promote employment, and a strong and diverse raw material base.
India is the largest producer of jute, second largest producer of cotton and man-made fibre and yarn, and third largest producer of silk. India has a vertical and horizontal integrated textiles value chain, and represents a strong presence in the entire value chain from raw material to finished goods. The average labour cost in India is $0.7 per hour compared to
$ 20 per hour in Japan, the minister added.