The textile ministry has received applications from as many as 67 companies to avail benefits of the production linked incentive (PLI) scheme for man-made fibres and technical textile sectors.
The textile ministry has received applications from as many as 67 companies to avail benefits of the production linked incentive (PLI) scheme for man-made fibres and technical textile sectors, a top government official said on Saturday.
The PLI scheme for textiles covers 40 man-made fibre (MMF) garment items, 14 MMF fabric goods and 10 technical textile products.
“We have taken a number of steps to promote growth of the technical textile sector. There has been a very good response for the PLI scheme.
“As many as 67 companies have made applications for being a part of the PLI for MMF and technical textiles and against our expectations of over Rs 19,000 crore investments, these companies have shown that they would be investing like Rs 22,000-23,000 crore in the MMF and technical textiles,” Textiles Secretary U B Singh said at a CII event.
The technical textiles (techtex) segment is a sunrise sector and holds huge potential for growth, he said.
It is used in different areas such as construction, road, railways, healthcare, automobile, and agriculture. The market size of the sector in India is about USD 20 billion. The global market size is about USD 260 billion.
