Latest news with #ManmadeandTechnicalTextilesExportPromotionCouncil
Time of India
11-07-2025
- Business
- Time of India
PLI for textile catalyses investments of Rs 7,343 crore
The Production Linked Incentive ( 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo '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. Live Events 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.
The Hindu
11-05-2025
- Business
- The Hindu
India-United Kingdom FTA to benefit textile clusters in T.N.
The recently concluded Free Trade Agreement between India and the United Kingdom is expected to boost export of garments and home textiles and benefit clusters such as Tiruppur and Karur. Shaleen Toshniwal, chairman of the Manmade and Technical Textiles Export Promotion Council said, the agreement provides duty free access to Indian garment and textile and India will have a level-playing field in the UK market with competitors such as Bangladesh and Vietnam. 'To capture a larger share of the U.K. market, we must use our inherent advantage of a vertically integrated domestic supply chain, leveraging it to offer speed and flexibility,' he said. According to Sudhir Sekhri, chairman AEPC, Indian textile and garment exports will not attract the 9.6% duty that was collected so far. 'India is the fourth largest supplier of garment with 6.1% share of the total readymade garment import of the U.K. The RMG exports to the U.K. from India grew 7.8% between April – March 2024-2025 compared with the previous fiscal. The top products imported by U.K. from India include T-shirts, singlets and other vests of cotton, knitted or crocheted, women's or girls' dresses of cotton; babies' garments and clothing accessories of cotton, knitted or crocheted. Cotton Textiles Export Promotion Council chairman Vijay Agarwal said there is a huge potential to grow the market share of Indian exporters to approximately 10% to 12% in the U.K. over the next three years. S.K. Sundararaman, chairman of the Southern India Mills' Association (SIMA), said that in the total U.K. exports of textiles, ready-made garments of all textiles account around 70% and cotton yarn/fabrics/made-ups, handloom products, etc., account around 15%. Exports of home textiles, especially the kitchen linen from clusters like Karur, had been struggling with the tariff disadvantage when compared with countries like Pakistan and the sector would now soon be able to double its exports to U.K. The Indian Chamber of Commerce and Industry, Coimbatore, said the FTA will enhance competitiveness, spur innovation, and create new opportunities for businesses in Coimbatore to thrive on the global stage.
