'Textiles fair generates Rs 425 cr business this year'

'Textiles fair generates Rs 425 cr business this year' Jaipur: Textiles and accessories fair 'VASTRA -2013' has generated business worth over Rs 425 crore this year, compared to Rs 375 crore in the last edition.

The business generated in Vastra this year was about USD 69.3 million, compared to USD 61 million last time, Riico MD Naveen Mahajan said.

The four-day long exhibition, which ended today, had been being jointly organised by Rajasthan State Industrial Development and Investment Corporation (Riico) and Federation of Indian Chambers of Commerce and Industry (Ficci).

This year, over 200 exhibitors showcased a wide variety of products -- apparels, made-ups, home textiles, fashion accessories, carpets, rugs and bags, according to organisers.

They said the fair served as a platform to participants for forming new business relations, exports, partnerships worldwide and locations for setting up businesses in India, projecting it as a prominent sourcing hub and investment destination.

The Ministry of Commerce & Industry has provided financial support of Rs 5 crore for the fair, under the Market Access Initiative Scheme, Rajasthan Industries Minister Rajendra Pareek said.

The exhibition has a special significance for Rajasthan as the state government has recently announced a separate policy for the sector titled the 'Special Customised Package for Textile Sector Enterprises ? 2013'.

Textiles is among the prominent sectors in Rajasthan, employing 1.61 lakh people in mills and decentralised power loom sector.

Rajasthan has apparel and textiles-friendly policies and provides impetus to the entire textile value chain ? from spinning to garments and made-ups.

PTI