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Tamil Nadu
Uzbekistan invites investments from textile entrepreneurs
M. Soundariya Preetha
Coimbatore: Uzbekistan, one of the largest cotton producing countries and the second largest exporter of cotton fibre, has invited investments from textile entrepreneurs here.
Uzbek Minister for Light Industries Ruzikulov Rahmatullo, who is also handling textiles and silk, told The Hindu here on Wednesday that Uzbekistan had more than 70 textile companies with investment from Germany, Korea, Malaysia, Sin
gapore, Turkey and India.
During the last three years, nearly 10 textile delegations from India and Uzbekistan had exchanged visits to consider improving textile business.
Now, the aim was to discuss specific proposals. “There is a big, big enquiry from the Indian side to open up facilities there,” he said.
The availability of cotton apart, the units could save on costs, as Uzbekistan offered tax incentives and had other raw materials, including power, at a low cost.
Last month, a 16-member delegation from Tirupur visited Uzbekistan.
“They saw a big potential to increase their manufacturing capacity,” he said.
The Minister would visit Tirupur on Friday and hold discussions with members of the Tirupur Exporters’ Association.
Mr. Rahmatullo said: “We are looking at units that have experience in textiles and their own market.” India’s textiles sector was one of the best worldwide, and there could be programmes for sharing of information and knowledge.
During his four-day visit to this region from Thursday, Mr. Rahmatullo would address a meeting organised by the Confederation of Indian Industry and the Tirupur garment exporters and visit factories at Karur, Tirupur and Namakkal.
The annual bilateral trade in cotton, textiles and silk was roughly $500 million.
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