Textile sector Current Affairs

Deendayal Hastkala Sankul: Government launches trade facilitation centre for handicrafts

Prime Minister Narendra Modi inaugurated Deendayal Hastkala Sankul, a trade facilitation centre and Crafts Museum for handicrafts at Varanasi, Uttar Pradesh.

The centre and Crafts Museum was proposed by Union Finance Minister in his 2014-15 Budget speech to develop and promote handlooms, handicrafts and silk products.

Deendayal Hastkala Sankul

The centre will facilitate weavers/artisans/exporters in promotion of handlooms and handicrafts in both domestic and international markets. Moreover, Crafts Museum at the centre will preserve traditional handloom/handicrafts products of Varanasi and showcase handloom & handicraft products.

The centre will help to promote rich traditional craft of ancient Varanasi. It will provide enabling platform and environment to showcase Indian handloom and handicrafts. It will provide supply chain linkages to domestic and foreign buyers. Moreover, it will give thrust to domestic and international tourism. It will also give boost to trade and economic development of Varanasi as well as eastern parts of country.

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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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