FICCI Current Affairs

VASTRA 2017: An International Textile and Apparel Fair 2017 held in Jaipur

The 6th edition of VASTRA– An International Textile and Apparel Fair 2017 (VASTRA 2017) was recently held in Jaipur, Rajasthan.

It was jointly organised by Rajasthan State Industrial Development and Investment Corporation Ltd. (RIICO) and Federation of Indian Chambers of Commerce and Industry (FICCI). More than 50 countries and 13 Indian States participated in VASTRA 2017.

VASTRA Fair

VASTRA since its inception in 2012 has created space for itself in calendar of international exhibitions on textiles and apparel. The expo was all-encompassing trade fair and conference on Textiles and Apparel that presented fusion of finest and latest in textile products – from fiber to fashion, services and technology. It aimed at revitalizing existing business ties and forging of new business relations for business opportunities.

It served as an ideal platform to enter JVs, strategic alliances and partnerships worldwide, launch new products, as well as, harness new locations for setting up businesses in India. It also served as a platform for disseminating technology and interacting with R&D Labs and experts for solution in technology and latest trends.

India’s textiles sector

India’s textiles sector is one of the oldest industries in Indian economy dating back several centuries. Even today, it is one of the largest contributors to India’s exports with approximately 11% of total exports (exports during FY 2015-16 stood at US$ 40 billion). It contributes approximately 5% to India’s Gross Domestic Product (GDP), and 14% to overall Index of Industrial Production (IIP). It is also labour intensive and is the second largest employer after agriculture. Government has allowed 100% FDI in the Indian textiles sector under the automatic route.

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Pankaj Patel elected as FICCI President for 2017

Pankaj Patel was elected as the President of Federation of Indian Chambers of Commerce and Industry (FICCI) for the year 2017.

He will take over after incumbent Ambuja Neotia Group Chairman Harshavardhan Neotia completes his term in December 2016.

At present Pankaj Patel is Chief Managing Director of Zydus Cadila. He is actively involved in various educational institutions and is on advisory committees and academic councils of several educational institutions such as IISER (Kolkata), IIM Ahmedabad etc.

He is also the Vice President, Executive Chairman and Trustee of the Gujarat Cancer Society and Chairman of the Gujarat Cancer and Research Institute, one of the largest of its kind regional Cancer Centre in India.

About Federation of Indian Chambers of Commerce and Industry (FICCI)

  • FICCI is the largest and oldest apex business organization in India. It is a non-governmental and non-profit organization.
  • Establish: 1927
  • Headquarters: New Delhi.
  • Mission: To enhance efficiency and global competitiveness of Indian industry.
  • To expand business opportunities both in domestic and foreign markets through a range of specialized services and global linkages.

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