PLI for textile catalyses investments of Rs 7,343 crore
PLI
) Scheme for textiles has catalysed investments of Rs 7,343 crore, turnover of Rs 4,648 crore and exports of Rs 538 crore.
Operational from September 24, 2021 to March 31, 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.
Under the scheme, the minimum investment threshold is Rs 100 crore (part 1) and Rs 300 crore (Part 2), with incentive disbursements linked to achieving an incremental turnover of 25% over the previous year.
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'The scheme has rightly recognised the potential of technical textiles and manmade fibre textiles by including a wide range of their products,' said Shaleen Toshniwal, chairman, Manmade and Technical Textiles Export Promotion Council.
Technical textiles have emerged as a major focus area under the scheme, accounting for 56.75% of the 74 selected applications, spanning 42 companies.
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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, the council said.
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