India

India has emerged as the world’s top destination for Foreign Direct Investment (FDI) this year, according to the Financial Times, beating out both China and the United States. According to fDi Markets, the paper’s data service, India secured US$31 billion in FDI during the first half of 2015, marking a 47% increase over 2014. Rounding out the top 3 were China at US$28 billion and the U.S. at US$27 billion. (Financial Times)
 
A new study released by the Associated Chambers of Commerce in India (ASSOCHAM) says that India needs to invest at least 10% of its GDP in infrastructure to ensure that the ongoing “Make In India” campaign is as effective as possible. The study also proposed the idea of mobilizing pension and insurance funds to support infrastructure development and that public-private partnerships could also be an essential tool. The report was published in cooperation with the Thought Arbitrage Research Institute. (Fibre2Fashion)
 
The Southern India Mills Association (SIMA) is pressing the government to implement policies that will ensure the country stays on the forefront of the global textile industry. This comes after the country’s textile exports dropped 20.66% in August, the 9th consecutive month of declines. Among the highest-priority requests are a push to reduce duties on textiles and expedite negotiations on several pending trade deals. (Fibre2Fashion)
 
The Gurgaon-based Apparel Training and Design Center (ATDC) has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh State Skill Development Corporation to train more skilled youth for work in the garment and textile sectors. The two-year agreement will provide training opportunities to youth and women and also encourage them to pursue entrepreneurial opportunities. ATDC representatives say that they will “leave no stone unturned” to give as many people as possible an opportunity to make a living in the industry. (Fibre2Fashion)