NEW DELHI, June 1 The Indian textile sector will require more fiscal stimulus from the government and 300 billion rupees of investment annually to maintain growth momentum, the textile minister said on Monday.
"There are many challenges before the textile sector. The government will impart momentum to this $52 billion industry by striving to achieve a growth rate of 8-10 percent per annum," Dayanidhi Maran told reporters.
India's textile exports have been hit after recessions at developed nations. (Reporting by Rajesh Kumar Singh; Editing by Ramya Venugopal)
Trending On Reuters
Construction firm Larsen & Toubro Ltd reported a quarterly profit well below analysts' estimates, as several of its local infrastructure orders were deferred, leading to a decline in domestic business. Full Article