financetom
Economy
financetom
/
Economy
/
India to soon have own standard of apparel size, says Smriti Irani
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
India to soon have own standard of apparel size, says Smriti Irani
Jan 20, 2019 8:20 AM

Union minister Smriti Irani Sunday said Indian textiles and garments industry would soon get its own country-specific apparel size. Addressing the 'Textile Conclave' at the Vibrant Gujarat Global Summit here, Irani said a study will be carried out before introducing the 'Size India' project for apparel measurement.

Share Market Live

NSE

"In the apparel export segment, one of the biggest challenge is that the UK has its size, the US has its size, and Europe has its size of measurement. But, India does not have it (size of apparels, such as 42, 44 and XL)," she said.

"I hereby present the central government's resolve that 'Size India' project will soon be rolled out for the entire country, the first-of-its-kind project in the Indian history," she said, adding that a study will be undertaken for the project.

Irani said the central government, led by Prime Minister Narendra Modi, has alloted over Rs 1,800 crore in the last 4.5 years to Gujarat for upgradation of technology in the textile sector.

"Following this allocation, new investment of Rs 30,000 crore came in the state's textile industry," she said.

The minister also announced to carry out a study to gauge the domestic demand of the textiles market.

"Our country has a capacity to cater to huge demands, both domestic and overseas. But, never before in the history of our country was a study done to ascertain the strength and the magnitude of our domestic market," she said.

Irani said the Centre will soon embark upon a statistical study to actually categorise the domestic demand of the market "so that it becomes a base for the creation and .

First Published:Jan 20, 2019 5:20 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Fed's Bostic: it is 'time to move' on rate cuts, but wants to be sure
Fed's Bostic: it is 'time to move' on rate cuts, but wants to be sure
Sep 1, 2024
(Reuters) -Federal Reserve Bank of Atlanta President Raphael Bostic on Wednesday said that with inflation down farther and the unemployment rate up more than he anticipated, it may be time to move on rate cuts, but he wants to be sure before pulling that trigger.     Bostic said he will want to see confirmation from the monthly jobs report and...
Solid US consumer spending pushes against hopes for hefty Fed rate cut
Solid US consumer spending pushes against hopes for hefty Fed rate cut
Sep 1, 2024
WASHINGTON (Reuters) - U.S. consumer spending increased solidly in July, suggesting the economy remained on firmer ground early in the third quarter and arguing against a half-percentage-point interest rate cut from the Federal Reserve next month. The report from the Commerce Department on Friday also showed prices rising moderately last month, curbing inflation. A jump in the unemployment rate to...
Weekly Jobless Claims Decline
Weekly Jobless Claims Decline
Sep 1, 2024
12:19 PM EDT, 08/29/2024 (MT Newswires) -- Weekly applications for unemployment insurance in the US decreased, government data showed Thursday, with Oxford Economics suggesting that layoffs remain low. The seasonally adjusted number of initial claims declined by 2,000 to 231,000 in the week ended Aug. 24, according to the Department of Labor. The consensus was for a 232,000 level in...
US Economy Expands By 3% In Q2, Surpasses Earlier Estimates; Jobless Claims Little Moved Last Week (CORRECTED)
US Economy Expands By 3% In Q2, Surpasses Earlier Estimates; Jobless Claims Little Moved Last Week (CORRECTED)
Sep 1, 2024
Editor’s note: This story has been updated to correct the consumer spending figure from the second-quarter GDP report and to state that weekly jobless claims saw an improvement, rather than a cooling in labor market conditions. The U.S. economy expanded by a robust 3% in the second quarter, a significant acceleration from the 1.4% growth seen in the first quarter...
Copyright 2023-2026 - www.financetom.com All Rights Reserved