Ministry of Textiles08-August, 2014 15:26 IST
India as Source Country for Global Apparel Importers

India is sixth largest supplier in world with 3.7% share in global readymade garment exports as per World Trade Integrated Solutions database of 2013 while Bangladesh and Cambodia are 2nd and 14th largest readymade garment supplier in global market respectively.

As per extant FDI policy in Multi-Brand Retail Trade (MBRT) Policy stipulates that ‘At least 30% of the value of procurement of manufactured/processed products purchased shall be sourced from Indian micro, small and medium industries, which have a total investment in plant & machinery not exceeding USD 2.00 million. Government has approved a proposal from M/s. Tesco Overseas Investment Ltd. (TESCO), a UK Company to carry out the business of Multi Brand Retail Trading in India. No other application/proposal for investment in Multi Brand Retail Sector has been received in Department of Industrial Policy & Promotion.

The information was given by the Minister of State (Independent Charge) in the Ministry of Textiles Shri Santosh Kumar Gangwar in a written reply in Rajya Sabha today.

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(Release ID :108326)