Textiles and accessories fair ‘VASTRA-2013’ that opened here today is expected to generate business worth Rs 700 crore this year, up 75 per cent compared to the last edition, Rajasthan Industries Minister Rajendra Pareek said.
“We expect to generate higher business worth Rs 700 crore in this year’s fair as there is an increase in the number of exhibitors as well as foreign buyers,” Pareek said after inaugurating the fair.
The four-day exhibition is being jointly organised by Rajasthan State Industrial Development and Investment Corporation (RIICO), with the Federation of Indian Chambers of Commerce and Industry.
The event, wherein over 200 exhibitors showcasing a wide variety of products like apparel, made-ups, home textiles, fashion accessories, carpets, rugs and bags, aims to provide a platform to participants for forming new business relations, exports, partnerships worldwide and locations for setting up businesses in India.
The fair would contribute further in projecting India as a prominent sourcing hub and investment destination. The Ministry of Commerce & Industry has provided financial support to the tune of Rs 5 crore for the fair, under the Market Access Initiative Scheme, Pareek said.
“This year 202 exhibitors, 421 buyers from 66 countries and 43 Indian buying houses have confirmed their participation,” RIICO MD Naveen Mahajan said.
“Besides participation from traditional export markets like the US and West Europe, this year there is also an increase in participation from new markets such as Latin America, Africa, China, Australia and East Europe.
“The event is in line with the efforts of the government in enlarging the export market of Indian textiles and making inroads into new ones,” Mahajan added.
During the interaction, State Head of FICCI, Gyan Prakash said: “The exhibition is a comprehensive trade fair on textiles and apparel. The objective is to showcase the best and latest in textiles from — fibre to fashion, be it products and accessories or technology and machines.”
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 are among the prominent sectors in Rajasthan, employing 1.61 lakh people in mill and decentralised powerloom sector.
Rajasthan has apparel and textiles-friendly policies and provides impetus to the entire textile value chain — from spinning to garments and made-ups.