MoUs worth Rs. 8835 crore signed in textile sector during Vibrant Gujarat 2017

Posted on:13 Jan 2017 16:09:29
MoUs worth Rs. 8835 crore signed in textile sector during Vibrant Gujarat 2017
13 January 2017 Current Affairs: Union Textiles Minister Zubin Irani on 12 January 2017 announced that Memorandums of Understanding (MoUs) worth Rs 8835 crore were signed in textile sector. The MoUs were signed during 8th Vibrant Gujarat Global Summit 2017 in Gandhinagar.The MoUs cover different sectors of textiles such as textile parks, textile processing, equipment, carpet production, etc.

Textile Sector: Gujarat Scenario:

Gujarat is known by various names such as Textile State of India, Manchester of the East and Denim Capital of India.

The State is a leader in textiles with more than 1500 medium and large textile units.

Gujarat's textile market is estimated to be around 25 billion US dollars by 2017.

Gujarat produces 29% of India’s total cotton production.

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