Trident, Arvind among 61 firms approved for PLI scheme for textiles

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

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