Baku, Azerbaijan, Dec. 12
By Fikret Dolukhanov – Trend:
Uzbek Textile Industry Association, O’zto’qimachiliksanoat, concluded eight investment agreements totaling $30.5 million with the Confederation of Indian Textile Industry (CITI), Trend reports referring to Uzbek media.
The agreements were concluded at the Global Textile Conclave - 2018 international conference in New Delhi.
CITI is one of the leading industrial chambers in India’s textile and apparel industry, representing the largest regional and industry associations and 17 large corporate members, covering the entire chain from farm (cotton fiber growing) to finished products. The total annual turnover of CITI members is about $30 billion.
The confederation works as an interface between the government of India and industry. It helps the government in providing political resources to the government and at the same time supports the textile and clothing sector, protecting their interests, amending government policies.
During the event, an official ceremony of signing an agreement on cooperation between the O’zto’qimachiliksanoat and CITI was held.
The agreement is aimed at scientific and innovative improvement of the industry through mutual cooperation, attracting potential Indian investments to the implementation of joint projects, as well as organizing specialized exhibitions and fashion shows on an annual basis, both in Uzbekistan and in India, in order to expand investment and cooperative links between enterprises of the textile industry.
Also, Indian textile companies offered to cooperate in the sale of Uzbek textiles to third-country markets, including placing orders for export to European countries.
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