Karnataka Attracting Investments for Textile and Apparel Sector

Focused Product Investment Scheme Rolled Out to Support Mmf Segment

The Karnataka textile sector attracted Rs 4,292 crore in investments at the ongoing Global Investors Meet (GIM) in Bengaluru.

The textile sector attracted investments from the state players with Manjushree Garments committing Rs 340 crore and Shahi Exports Rs 150 crore. The sector is expected to generate 36,457 jobs in the coming years.

“We are missing the bus on technological improvement, and are not using artificial intelligence to develop the textile sector. None of the textile machines, except the spinning ones from Coimbatore, are made in India, and we are paying huge amounts to import them. Unfortunately, all raw materials, especially dyes, are from China,” said T Ramalingam.



Related posts

Sanathan Textiles files papers with SEBI to raise Rs 1300 cr via IPO

PS NewsDesk

Textile Minister calls for Investigation on Increasing Cotton Prices

PS NewsDesk

Paramount Textile Mills P Ltd Felicitated with Gold Trophy in Exports

PS NewsDesk

Leave a Comment