The textile and clothing industry in Tamil Nadu hopes to attract ₹3000 crore additional investment in man-made fibre (MMF) and technical textile segments with several schemes announced by the Central and State governments.
S.K. Sundararaman, chairman of the Indian Technical Textile Association and vice-chairman of Southern India Mills’ Association , said the Production Linked Incentive Scheme approved on Wednesday by the Union government for the textile sector will make the MMF sector in the country more competitive and will the other incentives now made available, it is expected to attract investments. “People will expand more in their current area of operation,” he said.
The technical textiles segment is a new age textiles with huge potentials in the infrastructure, water, health and hygiene, defence, etc. The PLI Scheme and the National Technical Textile Mission already launched by the Government with the budget outlay of ₹1,480 crores will give enormous opportunity for this segment.
According to the Confederation of Indian Textile Industry, through the PLI Scheme, the Union government wants to scale up the capacity of the textile and clothing industry 10 times. The Cotton Textiles Export Promotion Council said the incentives under the scheme are based on the fulfilment of the prescribed minimum investment and turnover limits. The broad objectives of the scheme is to help Indian textile companies to become global champions and to regain India’s dominance in global textiles trade.
The Apparel Export Promotion Council said with the scheme, Indian apparel exports are likely to double in three years. The PLI scheme will strengthen the Indian manufacturing capacity of MMF fabric and will thus increase the share of MMF-based garments. It is currently 20 % of the total apparels produced in India.
According to the Indian Texpreneurs Federation, the PLI scheme will help India build a strong fabric manufacturing eco system for the growth of apparel exports. Apart from apparel, the MMF fabrics included in the scheme will help the industry invest in this sector.
The Tiruppur Exporters’ Association said the scheme will promote production of high value MMF fabrics, garments, and technical textiles. Larger companies will get into production of these products, promoting exports and employment.
Published - September 09, 2021 12:06 am IST
