India has received USD 298.67 million foreign direct investment (FDI) in the textiles sector in FY21, as against USD 323.52 million in FY20, Minister of State for Textiles Darshana Jardosh said on Friday. In a written reply to the Lok Sabha, she said the textiles sector is open to FDI under an automatic route.
“FDI inflows serve to augment domestic capital and help to promote industrial development, thereby increasing its production capacity, export competitiveness, employment opportunities across the textiles sector.
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Such investments bring international best practices and latest technologies in various sectors, leading to overall economic growth and development in the country,” she said