The government is mulling setting up around ten integrated mega parks with state-of-the-art infrastructure near ports to attract foreign direct investment reportedly. Addressing a conference, Textile Secretary Ravi Capoor said there has been a “very good response” from state governments on the proposed mega parks.
The government is mulling setting up around ten integrated mega parks with state-of-the-art infrastructure near ports to attract foreign direct investment reportedly. Addressing a conference, Textile Secretary Ravi Capoor said there has been a “very good response” from state governments on the proposed mega parks.
The Secretary said India needs to create mega-brands in textile sector and the ministry was working on all these issues.He noted that there are serious issues regarding India’s competitiveness as far as exports, cutting across all sectors, are concerned, and that the fear of all Free Trade Agreements essentially comes down to the fact that India is not so competitive.
“The government is very seriously contemplating mega parks in this country. Today when you say about China-US trade war, they are looking for places to invest,” the Secretary said while addressing a CII event here.
The government needs to provide this type of infrastructure to global players to attract FDI and also to the country’s people, he added.
Highlighting that world-class manufacturing can only happen if India is competitive globally, the Secretary said India needs to create mega-brands in textile sector and the ministry was working on all these issues.
Besides, he said, he may lead a delegation of manufacturers to Bangladesh in a fortnight to request the country to source fabric from India, as it cannot unilaterally impose a fabric forward policy with the neighbouring nation since it is not covered under the South Asian Free Trade Area (SAFTA).
“Normally under these agreements you have a rule called fabric forward policy, which means you can sell the apparel to me, provided you take fabrics from me. It is an old agreement, this element did not find place there, therefore it is not possible unilaterally for India to introduce a fabric forward policy with Bangladesh,” Capoor said.
