India can become one-stop sourcing destination for ASEAN:Irani
New Delhi, Jan 23 (PTI) India has potential to become theone-stop sourcing destination for brands and retailers fromASEAN as opportunities exist for textile manufacturers fromthe 10-nation bloc to invest here and cater to the domesticmarket as well as exports, Textiles Minister Smriti Irani saidtoday.
Addressing a conference here, the minister said India hasstrengths in production and exports of almost all kinds oftextiles and apparel including all handloom and handicraftproducts that demonstrate the unique skills of the country'sweavers and artisans.
"In the year 2016, India exported textiles and apparelworth USD 1,203 million to ASEAN and imported textiles andapparel worth USD 546 million from ASEAN," Irani said, addingthat this is just a monetary testimonial to how we can goforward.
"With ability to produce a diverse range of products,India has the potential to become the one-stop sourcingdestination for brands and retailers of ASEAN nations," theminister highlighted.
She said there exists an opportunity for India to attracttextile manufacturers of ASEAN nations to invest inmanufacturing in India to cater to both domestic market withinthe country and the export markets across the world.
"I am hopeful that this is just one of the many areaswhere we can participate and leverage our strengths," Iraniobserved.
Addressing a seminar on India-ASEAN Weaving TextilesRelations', Irani said she is hopeful that the programme isthe beginning of a new era in the textiles sector.
"A new friendship (referring to India-ASEAN relations)that we can forge to ensure that we give better manufacturingopportunities, better wage opportunities and also helpstrengthen our legacies in the handloom and handicraftsectors," said the minister.
ASEAN (Association of Southeast Asian Nations) is amultilateral body whose member countries include Thailand,Indonesia, Singapore, Brunei, Laos, Myanmar, Cambodia,Malaysia, the Philippines and Vietnam. PTI RSNMKJ.
This is unedited, unformatted feed from the Press Trust of India wire.