Heralding positive changes

Heralding positive changes

Easy availability of raw material, world-class textile machinery and other support services have made cotton the growth engine of the Indian textiles and clothing (T&C) industry

Easy availability of raw material, world-class textile machinery and other support services have made cotton the growth engine of the Indian textiles and clothing (T&C) industry. Even the government policies, in the past, were framed to suit the cotton-based textile value chain. On the other hand, globally, man-made fibre (MMF) based textile products constitute 70 per cent of the T&C trade. As a course correction, the Government of India (GoI) has brought in several reforms in the last two years to give an impetus to the MMF sector by enhancing the global competitiveness of the Indian textiles & clothing industry, the largest employment provider among the manufacturing sector.

The recently approved Production Linked Incentive (PLI) scheme with a budgetary outlay of Rs 106.83 billion for man-made fibres and technical textiles was part of this policy reform process. The scheme for textiles is part of the overall announcement of PLI Schemes for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs 1.97 trillion. PLI scheme for textiles is aimed at promoting production of high value MMF fabric, garments and technical textiles in the country. The incentive structure has been so formulated that industry will be encouraged to invest in fresh capacities in these segments.

PLI scheme along with RoSCTL, RoDTEP and other measures announced by the government (such as providing raw material at competitive prices, skill development etc) is expected to give a big boost to the textiles manufacturing sector. As per the government estimates, over the period of five years, the PLI Scheme for textiles will lead to fresh investment of more than Rs 190 billion, cumulative turnover of over Rs 3 trillion and creation of additional employment opportunities of more than 7.5 lakh jobs in this sector.

The scheme focuses on setting up manufacturing units in aspirational districts (especially tier-3 and tier-4 towns and rural areas); thus, presenting huge growth opportunity for states such as Tamil Nadu, Maharashtra, Gujarat, Telangana, Andhra Pradesh, Rajasthan and Punjab who have strong textile eco-system. To boost exports, PLI scheme is much needed at this time when India’s share in global textile trade is lagging behind smaller nations like Bangladesh and Vietnam.

Dr S K Sundararaman, Chairman, Indian Technical Textile Association (ITTA), rightly says PLI scheme will give new lease of life for the industry and accelerate creation of world-class champions in a short span of time in MMF and technical textile products.

This month The Indian Textile Journal (ITJ) is celebrating its 132nd Anniversary with some of the key stakeholders deliberating on various aspects of sustainability and digitalisation – the two mega trends that are ushering in revolutionary changes in the way companies are conducting their businesses. Internally, ITJ is also making a change by constituting the Editorial Advisory Board comprising experts who will guide us in churning out industry-relevant information that matters the most and help us serve our readers better.

Happy Reading!

CATEGORIES
TAGS
Share This

COMMENTS

Wordpress (29)
  • comment-avatar

    best allergy medicine without antihistamine kirkland allergy pills toronto behind the counter allergy medicine

  • comment-avatar

    buy amoxicillin 250mg generic buy amoxicillin tablets buy generic amoxicillin over the counter

  • comment-avatar

    buy clomid 100mg online clomid medication clomid price

  • comment-avatar

    rybelsus 14 mg without prescription rybelsus 14mg us rybelsus cheap

  • comment-avatar

    where can i buy prednisone brand prednisone 40mg order deltasone without prescription

  • comment-avatar

    cheap ventolin buy generic albuterol order asthma pills

  • comment-avatar

    order neurontin without prescription neurontin pills order neurontin 600mg without prescription

  • comment-avatar

    order clomid 100mg pill buy clomiphene cheap clomiphene 50mg oral

  • comment-avatar

    order dapoxetine 60mg for sale misoprostol pills buy cytotec 200mcg online

  • comment-avatar

    orlistat 120mg us orlistat 60mg cost diltiazem 180mg us

  • comment-avatar

    order motilium 10mg pill domperidone online purchase sumycin without prescription

  • comment-avatar

    cost toradol buy toradol 10mg sale buy colcrys paypal

  • comment-avatar

    methylprednisolone 4 mg for sale methylprednisolone brand medrol 8mg over counter

  • comment-avatar

    inderal generic buy inderal 20mg without prescription cost clopidogrel 150mg

  • comment-avatar

    mobic 15mg drug meloxicam 7.5mg sale celecoxib 100mg brand

  • comment-avatar

    maxolon online buy cozaar 25mg tablet buy cozaar cheap

  • comment-avatar

    buy propecia pills order diflucan 200mg generic purchase fluconazole sale

  • comment-avatar

    metronidazole 200mg us – buy azithromycin 500mg pill oral zithromax 250mg

  • comment-avatar

    … [Trackback]

    […] Info to that Topic: indiantextilejournal.com/heralding-positive-changes-4/ […]

  • comment-avatar

    … [Trackback]

    […] Information to that Topic: indiantextilejournal.com/heralding-positive-changes-4/ […]

  • comment-avatar

    cheap valacyclovir – purchase diltiazem generic zovirax 400mg without prescription

  • comment-avatar

    order furosemide pills – prograf 5mg brand buy generic captopril 25mg

  • comment-avatar

    retrovir 300mg uk – buy avalide pill order allopurinol generic

  • comment-avatar

    clozapine price – buy generic glimepiride over the counter buy pepcid paypal

  • comment-avatar

    buy seroquel generic – cost geodon 80mg eskalith pills

  • comment-avatar

    buy hydroxyzine 10mg online cheap – atarax 10mg brand buy generic endep online

  • comment-avatar

    cheap amoxicillin without prescription – keflex 250mg oral buy ciprofloxacin generic

  • comment-avatar

    albuterol inhalator cost – buy allegra 180mg pill buy generic theophylline

  • comment-avatar

    glycomet brand – losartan 50mg pill precose 25mg ca

  • Disqus ( )