Trident, Arvind among 61 firms approved for PLI scheme for textiles
These 61 companies, selected for Production Linked Incentive (PLI) scheme, are expected to invest Rs 19,077 crore and a total turnover of Rs 184,917 crore is expected to be achieved over a period of 5 years.
The Selection Committee, chaired by Secretary, Ministry of Textiles, U P Singh, has selected 61 companies under Production Linked Incentive (PLI) scheme for textiles. Shahi Exports, Trident, Himatsingka Seide, Arvind, H P Cotton Textile Mills, Donear Industries, Sangam India, SVP Global, Ginni Filaments, etc are among 61 companies selected by the Union Ministry of Textiles for PLI scheme.A total of 67 applications were received for the PLI scheme out of which 15 applications are under Part-1 and 52 applications are under Part-2.
U P Singh announced that in the 61 applications approved the proposed total investment expected from the applicants is Rs 19,077 crore and a projected turnover is Rs 184,917 crore over a period of 5 years with a proposed direct employment of 240,134.
The scheme has two parts, Part 1 where minimum investment is Rs 300 crore and minimum turnover required to be achieved for incentive is Rs 600 crore; and Part-2, where minimum investment is of Rs 100 crore and minimum turnover required to be achieved for incentive is Rs 200 crore.
Government approved Production-Linked Incentive (PLI) scheme for textiles products, namely MMF apparel, MMF fabrics and products of technical textiles, for enhancing India’s manufacturing capabilities and enhancing exports with an approved financial outlay of Rs 10,683 crore over a five-year period. To further boost the growth of the sector, centre also removed the import duty of cotton.
The Notification for the scheme was issued on September 24, 2021. Operational Guidelines for PLIscheme were issued on December 28, 2021. Applications under PLI scheme for textiles were received through web portal from January 1, 2022 to February 28, 2022.
Stating that although India was the largest producer of cotton, U P Singh said that it was necessary to make our mark in manmade fibres (MMF) as well if we were to achieve the textile export target of$100 billion by 2030. Elaborating on the immense scope and potential of technical textiles, Singh stated that sectors such as geotextiles need much more encouragement to improve use, demand and penetration and intensive research and development activities.
The 61 applicants selected under the scheme as of now by the Selection Committee are as under:
Scheme Part-1
1 Avgol
2 Cubatics
3 Goa Glass Fibre
4 H P Cotton Textile Mills
5 Himatsingka Seide
6 Kimberly Clark India (subject to formation of a new company for investment and production under the Scheme as per existing guidelines)
7 Madura Industrial Textiles
8 MCPI
9 Paragon Apparel
10 Pratibha Syntex
11 Shahi Exports
12 Shree Durga Syntex
13 Trident
Scheme Part-2
14 AYM Syntex
15 Kennigton Industries
16 MI Industries India
17 Silkon Synthetics & Cotton Dyeing
18 Youngman Woolen Mills
19 Autoliv India
20 Donear Industries
21 Endurafab
22 Fibrevault Nonwovens
23 Mohini Health & Hygiene
24 Niine Private
25 Nobel Hygiene
26 Obeetee
27 Pan Tex Nonwoven
28 Rad Global Private
29 Shruthi Financial Services
30 Swara Baby Products
31 Candex Filament
32 Gainup Industries India
33 Gokaldas Exports
34 Indian Designs Export
35 Infiiloom India
36 Pearl Global Industries
37 Sangam (India)
38 Texport Industries
39 Toray International India
40 Teejay India
41 SKAPS Industries India
42 Artex Overseas
43 Best Corporation
44 Evertop Textile & Apparel Complex
45 Ginza Industries
46 Jalan Jee Polytex
47 Kanodia Global
48 Lotus Hometextiles
49 N Z Seasonal Wear
50 Microtex Processors
51 Monte Carlo Fashions
52 Rane TRW Steering Systems
53 Shree Tirupati Balajee Agro Trading Company
54 Arvind
55 Ginni Filaments
56 Grand Handloom
57 K G Denim
58 Suchi Industries
59 SVG Fashions (subject to formation of a new company for investment and production under the Scheme as per existing guidelines)
60 SVP Global
61 Techno Sportswear
