Mr. Sanjay Jain, Chief Executive Officer, PDS Limited – “The retail and textile industry has been keeping a close eye on the Union Budget to propel them out of the pandemic’s afflictions. The recently announced Production Linked Incentive (PLI) scheme for textiles, with an approved outlay of ₹10,683 crores for five years signifies a great step forward for the industry. Although there has been a 41% increase in textile exports from April-December 2021 against last year, the measures taken can further help the sector to be more competitive with global economies. Additionally, the exemptions allowed on imports based on export performance in handicrafts, garments, and leather will work well for the industry. India’s textile industry must aim for $65 billion in exports in the next five years, especially with the “China Plus One” sentiments providing India a commendable position as global companies look at sourcing and manufacturing destinations outside of China.”
