India: Govt receives 163 T&C project proposals in H1, 2014

Industry news

India: Govt receives 163 T&C project proposals in H1, 2014

Investments in India's textile industry are picking up, with 163 projects at various stages of implementation in the first six months of 2014. Gujarat continues to remain the investment destination of choice with over 55 projects, both new units and expansions happening in the state. This is followed by Tamil Nadu, with over 30 textile projects, mainly in the spinning sector. Maharashtra ranks third with 22 projects. Other states include Rajasthan (9), Karnataka (8), Haryana (7), Andhra Pradesh and Uttar Pradesh.

Sector-wise, investments continue to flow into the cotton spinning sector (57 projects). This is followed by around 52 fabric weaving and processing projects. Even as the government keeps stressing on the need for investments in finished products, only around 12 RMG projects are in the pipeline. It is encouraging to note that the government has received 11 proposals for technical textile projects in the first half of 2014.