(MENAFN- Kuwait News Agency (KUNA)) Â India has offered to help revive 300 apparel factories in Myanmar by offering USD 5 million line of credit, a statement of Ministry of Commerce said Sunday here.
India's offer came in Nay Pyi Taw, Myanmar where the Indian Minister of Commerce Industry and Textiles, Anand Sharma met the Myanmar President U Thein Sein. Sharma's three day tour to the country ended Sunday.
According to the offer, India's South India Textile Research Association (SITRA) will provide technical assistance in formulation of revival plans for these factories.
"A delegation comprising the experts, officials and businessmen will visit Myanmar within two weeks," the statement quoting Sharma said.
India will also cooperate with Myanmar in formulating a common compliance code for standards and also the best practices in the factories, said Sharma.
The Minister proposed to the Myanmar President a Common Compliance Code - Disha Myanmar to enhance compliance standards in Myanmar for exports to developed countries. Sponsored by Ministry of Textiles, Disha is an initiative to driving industry towards sustainable human capital advancement.
Disha attempts to educate apparel exporting members on a code of ethics that covers all critical social and environmental concerns like child labour, health and industrial safety.
"For capacity building in Myanmar textiles sector, India has offered 2 scholarships for 2 slots under National Institute of Design (NID) and 250 scholarships for textile workers under Integrated Skill Development Scheme. Scholarships have been offered in National Institute of Fashion Technology and Institute of Foreign Trade also," he added.
India will be setting up India-Myanmar Apparel Sector JVs in Thilawa Special Economic Zone (SEZ) in collaboration with other international brands, said Sharma, adding, "India will also set up a textiles trade show - Textiles Expo in Yangon for traditional textiles with Handloom Export Promotion Council (HEPC) as lead council".
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