61 proposals get nod under PLI scheme for textiles
The proposed total investment expected from the applicants is Rs19,077 cr and a projected turnover is Rs1,84,917 cr with a proposed employment of 240,134 people
image for illustrative purpose
New Delhi: The government on Thursday said it has approved 61 applications of companies, including Ginni Filaments, Kimberly Clark India Pvt ltd, and Arvind Ltd, with an investment potential of over Rs 19,000 crore under the production linked incentive (PLI) scheme for textiles.
Textile Secretary U P Singh said that a total of 67 proposals were received under the PLI scheme for the textiles sector.
"In the approved 61 applications the proposed total investment expected from the applicants is Rs 19,077 crore and a projected turnover is Rs 184,917 crore with a proposed employment of 240,134 people," Singh told reporters here.
The government had approved the PLI scheme for Textiles products like MMF apparel, MMF fabrics and products of technical textiles for enhancing manufacturing capabilities and boosting exports with an approved financial outlay of Rs 10,683 crore over a five-year period.
Out of 67 applications, 15 were received under Part-1 and 52 under Part-2, the official said.
In Part 1, the minimum investment requirement is Rs 300 crore and the minimum turnover required to be achieved for incentive is Rs 600 crore, and in Part-2, the minimum investment should of Rs 100 crore and the minimum turnover is Rs 200 crore.
The companies whose proposals have been approved include Avgol India Pvt Ltd; Goa Glass Fibre Ltd; H P Cotton Textile Mills; Kimberly Clark India Pvt Ltd (subject to formation of a new company for investment and production under the scheme); Madura Industrial Textiles; MCPI Pvt Ltd; Pratibha Syntex; Shahi Exports; Trident Ltd; Donear Industries; Gokaldas Exports; and Arvind Ltd.
Singh said that the scheme would help increase India's share in the global man-made fiber and technical textiles sector. "We are targeting to increase exports of technical textiles from $2 billion to about $$8-10 billion," he added.
Talking about the Mega Investment Textiles Parks (MITRA) scheme, the secretary said they have received 17 proposals from 13 states, including Madhya Pradesh (4) and Karnataka (2).
The Textiles Ministry will follow a 'challenge method' to select States for the scheme, under which seven parks will be set up in the country.
