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Related Keywords: generate employment, Ministry of Textiles, national workshop, promoting textile ecosystem, scheme for integrated textile park, SITP, skill development initiatives, special purpose vehicles, technological advancement, vision of Make in India

The Ministry of Textiles, in line with Prime Minister Narendra Modi’s vision of ‘Make in India’, has organised a two-day national workshop in Surat today. The workshop is aimed to help Scheme for Integrated Textile Parks (SITP) more effective.

SITP wants to fill infrastructure gap in the textiles and apparel industry. It seeks to do this by encouraging the industry to set up greenfield industrial parks with partial capital grant support from the ministry.

Related Keywords: Act East policy, develop extensive economic, in CMLV countires, project development company, set up manufacturing hubs, SEZ, South East Asia, special purpose vehicles, strategic relation, TPP, transfer of resource for acquisition

In the Budget, Finance Minister Arun Jaitley said that the 'Act East' policy of the government endeavors to develop extensive economic and strategic relations in South-East Asia. In order to catalyse investments from the Indian private sector in this region, a Project Development Company will, through separate Special Purpose Vehicles (SPVs), set up manufacturing hubs in CMLV countries.

Related Keywords: Act East policy, Cambodia, facilitate investment, Laos and Vietnam, Look East policy, manufacturing hub, Myanmar, Prime Minister Narendra Modi, project development company, special purpose vehicles, strengthen economic and strategic relations

India’s “Act East” policy is Indian Prime Minister Narendra Modi’s revamp of the decades old “Look East” policy, which aimed to strengthen economic and strategic relations in the region. It looks to counter China’s strategic and aggressive economic investments, much like the US’ “Pivot to Asia” policy.

To put forth this idea to ground reality, the Indian government is setting up a project development company to facilitate investment in Cambodia’s private sector by Indian firms