In September 2020, Textile Secretary Ravi Capoor informed investors that the Government of India was planning to bring a “focussed product scheme†to incentivise production of synthetic fibre-based apparel and technical textiles.
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Vikram Mahaldar, MD and CEO, OCM Private Limited, speaks on global market size for suiting and shirting fabrics, and performance of OCM this year.
On November 11, 2020, the Union Cabinet gave its approval to extend the PLI scheme to textile products along with nine other new sectors entailing additional financial outlay of Rs 1,460 billion over a five-year period.
The Union Cabinet gave its approval to extend the Production- Linked Incentive (PLI) scheme to textile products along with nine other new sectors entailing additional financial outlay of Rs 1460 billion over a 5-year period
On November 11, 2020, The Union Cabinet gave its approval to extend the production-linked incentive (PLI) scheme to textile products along with nine other new sectors entailing an additional financial outlay of Rs 1460 billion over a 5-year period.
Ashwin Chandran, Chairman, The Southern India Mills’ Association (SIMA) has thanked the Prime Minister and Union Textile Minister for including textile industry and allocating budget for improving manufacturing capabilities and boosting exports.
While European textiles and clothing companies have been crucial in providing short-term relief in the crisis, such as converting their production or an increased production of PPE, now long-term goals need to be tackled that involve a renewal process of the sector and its value chain and a more competitive and greener future.