Trade

PLI SCHEME Attracts Big Textile Players, 67 Applications Received by MOT

UP Set to become a Major Textile Hub

The textile ministry has received applications from as many as 67 companies to avail benefits of the production linked incentive (PLI) scheme for man-made fibres and technical textile sectors.

The PLI scheme for textiles covers 40 man-made fibre (MMF) garment items, 14 MMF fabric goods and 10 technical textile products.

RIL, Arvind, Bombay Dyeing, Welspun, IndoRama Synthetics, Bombay Dyeing, Vardhman Group, Trident and Shahi Exports are some of the companies that have applied for the scheme.

The government had approved the PLI scheme worth Rs 10,683 crore for the sector with an aim to boost domestic manufacturing, create jobs and promote exports.

As against Govt’s expectations of over Rs 19,000 crore investments, these companies have shown that they would be investing like Rs 22,000-23,000 crore in the MMF and technical textiles.

Principal Scientific Advisor to the Centre K Vijay Raghavan emphasised on the need for increasing R&D investments in the segment.

PLI scheme, PM-MITRA, and National Technical Textiles Mission are some of the schemes being announced by the Government.

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