A global investors’ meet will take place in Tamil Nadu on September 9 and 10, 2015. The textile and clothing sector is likely to get a cumulative investment of Rs 4,500 crores during the event. These investments will primarily be on higher value chain. The investments are set to give a substantial fillip in employment generation and stimulate ancillary industries.
Inclusion of more new projects higher up the value chain will strengthen a sector that already has elements of the whole textile value chain, from cotton to garment making. The project could also help take up the slack in demand for yarn caused by China’s burning out. There had been a lot of investment in the spinning sector between 2005-10, driven by TUF but it slackened in the meantime.
Tamil Nadu a leading state in India in textiles. It houses the country’s largest spinning industry accounting for almost 40 per cent of the total installed capacity in India. It has a complete ecosystem of textile industry. Tamil Nadu is home to the knitting industry and has the biggest knitting cluster in India, Tirupur. The state ranks first in the apparel industry and is second in textile industry in India.
