PLI Scheme for textiles attract 61 investors, including 7 foreign companies
18 Apr 2022
1
The commerce ministry has approved a total of 61 applications, with expected total investment of Rs19,077 crore, under the Production Linked Incentive (PLI) Scheme For Textiles. The projected turnover is Rs184,917 crore with expected employment generation of 240,134.
The 51 applicants included 13 listed companies and seven foreign companies, including a Sri Lankan firm with proposed total investment of Rs 3,559 crore, signalling wider interest in India’s government approved PLI programme.
The PLI Scheme for Textiles aims at enhancing India’s manufacturing capabilities and enhancing exports with an approved financial outlay of Rs10,683 crore over a five-year period.
A selection committee chaired by secretary, ministry of textiles, UP Singh has selected 61 applicants under the PLI Scheme for textiles. 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.
The scheme has two parts, Part 1 where minimum investment is Rs300 crore and minimum turnover required to be achieved for incentive is Rs600 crore; and Part-2, where minimum investment is of Rs100 crore and minimum turnover required to be achieved for incentive is Rs200 crore.
Government approved PLI Scheme aims at enhancing India’s manufacturing capabilities and enhancing exports of textile products, namely MMF Apparel, MMF Fabrics and Products of Technical Textiles, with an approved financial outlay of Rs10,683 crore over a five-year period.
To further boost the growth of the sector, the centre also removed the import duty on cotton.
The notification for the scheme was issued on 24 September 2021. Operational Guidelines for Production Linked Incentive (PLI) Scheme were issued on 28 December 2021. Applications under PLI Scheme for Textiles were received through web portal from 1 January 2022 to 28 February 2022.
The 61 applicants selected under the scheme are:
Part-1
- Avgol India Private Limited
- Cubatics Industries Private Limited
- Goa Glass Fibre Ltd. (GGFL)
- H P Cotton Textile Mills Limited
- Himatsingka Seide Limited
- Kimberly Clark India Private Limited (subject to formation of a new company for investment and production under the Scheme as per existing guidelines)
- Madura Industrial Textiles Limited
- MCPI Private Limited
- Paragon Apparel Private Limited
- Pratibha Syntex Limited
- Shahi Exports Private Limited
- Shree Durga Syntex Pvt. Ltd.
- Trident Limited
Part-2
- AYM Syntex Limited
- Kennigton Industries Pvt Ltd
- MI Industries India Pvt Ltd.
- Silkon Synthetics & Cotton Dyeing Pvt.Ltd.
- Youngman Woolen Mills Private Limited
- Autoliv India Pvt. Ltd.
- Donear Industries Ltd.
- Endurafab Pvt. Ltd. (EPL)
- Fibrevault Nonwovens Private Limited
- Mohini Health & Hygiene Ltd. (MHHL)
- Niine Private Limited
- Nobel Hygiene Private Limited
- Obeetee Private Limited
- Pan Tex Nonwoven Private
- Rad Global Private Limited
- Shruthi Financial Services Private Limited
- Swara Baby Products Private Limited
- Candex Filament Private Limited
- Gainup Industries India Private Limited
- Gokaldas Exports Limited
- Indian Designs Export Private Limited
- Infiiloom India Private Limited
- Pearl Global Industries Limited
- Sangam (India) Limited
- Texport Industries Private Limited
- Toray International India Private Limited
- Teejay India Private Limited
- SKAPS Industries India Private Limited
- Artex Overseas Private Limited
- Best Corporation Private Limited
- Evertop Textile & Apparel Complex Private Limited
- Ginza Industries Limited
- Jalan Jee Polytex Limited
- Kanodia Global Private Limited
- Lotus Hometextiles Limited
- N Z Seasonal Wear Private Limited
- Microtex Processors Private Limited
- Monte Carlo Fashions Limited
- Rane TRW Steering Systems Private Limited
- Shree Tirupati Balajee Agro Trading Company Private
- Arvind Limited
- Ginni Filaments Limited
- Grand Handloom Private Limited
- K G Denim Limited
- Suchi Industries Limited
- SVG Fashions Private Limited (subject to formation of a new company for investment and production under the Scheme as per existing guidelines)
- SVP Global Textiles Limited
- Techno Sportswear Private Limited
Although India is the largest producer of cotton, UP Singh said, “it is necessary to make our mark in manmade fibres as well if we are to achieve the textile export target of $100 billion by 2030.”
Elaborating on the immense scope and potential of technical textiles, Singh said that sectors such as geotextiles need much more encouragement to improve use, demand and penetration and intensive research and development activities.
