PLI Scheme - A Game Changer for India's Textile Sector
Mumbai (Maharashtra) [India], July 14: The Production Linked Incentive (PLI) Scheme for Textiles, launched in 2021, has emerged as a transformative initiative for India's textile industry. Operational from 24th September 2021 to 31st March 2030, the scheme offers financial incentives for a period of five years to promote manufacturing in Manmade Fibre (MMF) apparel, fabrics, and technical textiles, thereby enabling scale, competitiveness, and global integration.
The Ministry of Textiles has taken several proactive measures to ensure the success of the Scheme. It has expanded the coverage of eligible products by notifying additional HS Codes for Technical Textiles. In a significant move towards early support, the Ministry approved amendments on 20th February 2025, facilitating early disbursements amounting to ₹54 crore.
"The PLI Scheme is truly a game changer for our textile industry," said Mr. Gautam Kalra, Madura Industrial Textiles Pvt. Ltd., one of the Scheme's beneficiaries. "It's not just about financial incentives -- the Scheme has facilitated technology transfer and innovation in India's MMF and technical textiles sector."
Under the Scheme, the minimum investment threshold is ₹100 crore (Part 1) and ₹300 crore (Part 2), with incentive disbursements linked to achieving an incremental turnover of 25%over the previous year.
Mr. Nikhil Datye, CFO, Nobel Hygiene Private Limited., another beneficiary, remarked, "The support under the PLI Scheme has enabled us to accelerate investments in automation, product development, capacity expansion, and employment generation."
Incentive payouts will cover five financial years (FY 2025-26 to FY 2029-30), based on performance in the FY 2024-25 to FY 2028-29 period, with a total budgetary outlay of ₹10,683 crore.
Till date, the Scheme has catalyzed:
* Investments of ₹7,343 crore
* Turnover of ₹4,648 crore
* Exports of ₹538 crore.
Technical textiles have emerged as a major focus area under the Scheme, accounting for 56.75% of the 74 selected applications, spanning 42 companies.
"The Scheme has rightly recognised the potential of Technical Textiles and Manmade Fibre Textiles by including a wide range of their products," said Mr. Shaleen Toshniwal, Chairman, MATEXIL (Manmade and Technical Textiles Export Promotion Council), the official EPC designated to promote exports in these segments.
By boosting production of high-tech products like auto safety equipment, glass fibre, and carbon fibre, the Scheme is not only driving foreign investment but also enhancing India's positioning as a competitive global textile hub. These materials are vital to high-growth industries, enabling India's textile sector to meet international standards and challenge established exporters like China, Vietnam, and Bangladesh.
For more information, please visit: www.matexil.org
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
5 hours ago
- The Hindu
Did Trump slap tariffs for not getting India-Pakistan ceasefire ‘credit', asks Opposition
Did the U.S. impose high tariffs on imports from India as a retribution for not endorsing U.S. President Donald Trump's claim that he had brokered peace between India and Pakistan in the wake of Operation Sindoor? That was one of the over four dozen questions the Opposition asked at the Parliamentary Standing Committee on External Affairs meeting on Monday (August 11, 2025). The panel, headed by senior Congress leader Shashi Tharoor, was briefed by Foreign Secretary Vikram Misri and Commerce Secretary Sunil Barthwal on 'U.S.-India Trade negotiations and tariffs'. The meeting went on for three hours and according to Mr. Tharoor, nearly 50 questions were asked by 22 members of the panel, which the two Secretaries responded to. Responding to the Opposition MP's question, Mr. Misri, according to sources, said that the India-U.S. relationship was multi-faceted with trade being just one of the many aspects. The India-U.S. trade in 2024 was worth $210 billion. Mr. Misri strongly refuted recent reports that India was planning to put on hold plans to procure new U.S. weapons and aircraft. 'The India-U.S. defence cooperation continues as before,' he told the members who were also curious to know the impact of the increased tariffs on the GDP. They demanded to know the measures India was taking to negotiate the tariffs to a more acceptable level. Before the beginning of the meeting, the Foreign Secretary read out the External Affairs Ministry's statement on Pakistan Army Chief Asim Munir's remarks made during his U.S. visit. Mr. Munir reportedly said that Islamabad would take down 'half the world' with it if the country faced an existential threat from India. The Ministry responded by saying that such 'nuclear sabre-rattling' was not acceptable and it was 'regrettable' that such remarks were made 'from the soil of a friendly third country.' Later, Mr. Tharoor said the Ministry has given a 'fitting reply' to Mr. Munir's statement. 'This gentleman has a habit of saying things to the Pakistani diaspora that are apparently intended to boost his position. India knows how to handle these things in the air and on the ground. I am not too worried,' he said.
Time of India
8 hours ago
- Time of India
Govt's bid to reform ship ownership and registration through new Merchant Shipping Bill wins Parliament backing
Advt Advt By , ETInfra The Rajya Sabha on Monday passed the new Merchant Shipping Bill , clearing the decks for the government to overhaul a more than six decades old law governing the nation's shipping sector that had restrictions on registering ships under the Indian flag and stalled Bill was passed by the Lok Sabha last week and when signed into law by the President, it will facilitate reforms relating to ownership of ships that can be registered in India, a step that is aimed at boosting India's below par shipping tonnage The passage of the Merchant Shipping Bill is the latest in a series of initiatives taken by the Narendra Modi-led government to overhaul old legislation and rules relating to the maritime sector and bring them up to date with modern day Bill seeks to promote ease of doing business in the maritime sector, increase India's tonnage, strengthen the country as a bankable shipping jurisdiction, enhance welfare of Indian seafarers, improve adjudication and predictability of will help expand the ownership criteria of Indian vessels, allowing Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), joint ventures and body corporates to make investments in India and own vessels under the Indian will facilitate registration of a foreign vessel chartered on a so-called bareboat charter cum demise (BBCD) contract by an Indian is a form of financing ship acquisition, whereby the purchase is typically done by paying one-fourth of the total cost of the vessel as down payment while the balance is paid in instalments over the demise period, typically ranging from three-five a BBCD ship is allowed be converted to an Indian flag ship only when the last instalment is paid to the overseas owner. Till then, it flies the flag of the jurisdiction where it is Ministry plans to permit ships acquired through the BBCD route to be registered even before the last instalment is paid.'These reforms are aimed at encouraging investors, including smaller investors, to make investments in the shipping sector by way of ownership or joint ownership, resulting in increasing the Indian tonnage,' said Sarbananda Sonowal, Union Minister of Ports, Shipping and allows registration of Indian flagged vessels without the need to visit Indian Bill enables electronic means of registration, and grants statutory recognition to electronic agreements, records, and logbooks, in addition to electronic licenses, certificates and payments. The Bill also includes an enabling provision to notify an electronic database for inspections and conducting inspections based on ship risk profiles attributed to ships, thereby creating an efficient Port State Control and coordinated inspection measures are aimed at increasing the country's shipping tonnage and help tap a larger slice of international trade, a government official 2022, India was ranked 18th globally in ship owning, controlling a meagre 1.4 per cent of the global tonnage. In comparison, India's export-import (EXIM) trade is about 11 per cent of the global seaborne cargo trade, and this share is expected to rise to 30 per cent by FY20, India paid $85 billion in sea freight, of which some $75 billion was paid to foreign shipping companies, resulting in a huge outflow of foreign exchange. This is because the share of overseas cargo carried by Indian flagged vessels has dwindled from 40.7 per cent in 1988 to less than 5 per cent 2008 and 2021, the reliance on foreign fleets for hauling export-import cargo led to outbound freight charges of a whopping $637 billion, according to a document prepared by the Ministry of Ports, Shipping and of reliance on foreign fleet in geo-political situations may result in food and energy security disruptions, the document the benefits of having a robust national shipping fleet, the Ministry said it would mitigate 'supply chain disruptions and unforeseen geopolitical risks such as the COVID pandemic, Russia-Ukraine conflict and the Red Sea crisis'.It would make Indian shipping 'Atmanirbhar and globally recognized' besides enhancing the share of transport services in the export basket from 12 per India's shipping tonnage is estimated to cost some ₹55 lakh crore, according to the Maritime Amrit Kaal 2047 Vision 95 per cent of India's trade by volume and about 70 per cent by value is hauled via sea routes. A robust maritime sector is thus indispensable for realizing the vision of a $5 trillion economy and cementing India's position as a global economic powerhouse, Sonowal added.
NDTV
10 hours ago
- NDTV
2.17 Lakh Fake Currency Notes Detected In Financial Year 2024-25: Government
New Delhi: As many as 2.17 lakh pieces of fake notes of various denominations were detected during 2024-25 compared to 2.23 lakh such notes in the previous year, Parliament was informed on Monday. Of this, highest -- 1,17,722 pieces -- counterfeit notes of 500 [MG (New) Series] were detected in FY25, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha. This was followed by 51,069 pieces of such notes of 100 denomination and 32,660 notes of Rs 200, he said. "Government of India, in consultation with Reserve Bank of India, reviews the effectiveness of security features of banknotes from time to time and undertakes measures to introduce new security features in accordance with Section 25 of the Reserve Bank of India Act, 1934. Incorporating new security features/new designs in the banknotes to stay ahead of the counterfeiters is a continuous process," he said. In reply to another question, Mr Chaudhary said, the RBI has noted that net fixed assets of private limited companies registered a steady growth of 7.6 per cent, 10.3 per cent, and 10.2 per cent in 2021-22, 2022-23, and 2023-24, respectively based on financial statement data of corporates received from the Ministry of Corporate Affairs. Additionally, he said, the RBI compiles data on investment intentions of private corporates using information received from select banks and financial institutions (FIs). As per the latest data published in the August 2024 issue of the RBI Bulletin, the number of projects sanctioned by banks and FIs more than doubled, from 401 projects in 2021-22 to 944 projects in 2023-24. During the same period, he said, the total cost of sanctioned projects rose significantly from Rs 1.4 lakh crore to Rs 3.9 lakh crore. The government has taken several measures to enhance investor confidence and crowd-in or encourage private sector participation, with a focus on capital expenditure, infrastructure development, financial sector reforms and ease of doing business, he said. Key initiatives include Production-Linked Incentive (PLI) schemes, she said, credit guarantee programmes, FDI liberalisation across sectors such as defence, retail and insurance, and regular review of the FDI policy. Significant investments in infrastructure - supported by instruments like Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs) and Infrastructure Debt Funds (IDFs), and Public-Private Partnerships (PPP) models under the Viability Gap Funding (VGF) scheme - are aimed at crowding in private capital. Institutions such as National Investment and Infrastructure Fund (NIIF) and National Bank for Financing Infrastructure and Development (NaBFID) provide long-term infrastructure financing. Further, Budget 2025-26 announced steps like the Partial Credit Enhancement (PCE) facility, Urban Challenge Fund, and expansion of the Harmonised Master List of infrastructure to sustain momentum and investor interest.
