India spends 32 billion to improve textile industry

Recently, India government releases a survey report, saying India plans to invest 140 billion rupee (about 31.8 billion U.S. dollars) to improve the existing textile factories, equipment and technology, to upgrade the product competitiveness. This investigation report covers the current situation of Indian textile industry, annual production capacity, actual production, export growth and investment plans etc.

According to the report, among the 31.8 billion U.S. dollars, 16 billion U.S. dollars will be spent on the setting up new plants and machinery.

WTO 2005 assessment report said that after gradually abolishing textile tariffs, India was still the world's seventh largest textile exporter, with the export amount of 7.85 billion U.S. dollars; EU ranked first with 68 billion U.S. dollars, second, China ranked second with 41 billion U.S. dollars.