PLI scheme for textile sector: Tamil Nadu eyes more investments

15th Sep, 2021

PLI scheme for textile sector: Tamil Nadu eyes more investments

TheTamil Nadu seeks more investments through the PLI scheme for the textile sector. Tamil Nadu is eager to take advantage of the PLI (production linked incentive) scheme for textiles and will provide all necessary assistance to the industry in order to attract investment.

The scheme's success is dependent on the collaboration of the Centre, state governments, and investors. According to Vijoy Kumar Singh, Additional Secretary, Ministry of Textiles, Government of India, most state governments, including Tamil Nadu, are eager to implement the PLI scheme.The PLI scheme is expected to benefit states such as Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh, Punjab, Andhra Pradesh, Telangana, and Odisha.
He went on to say that states like Tamil Nadu, which is already a major player in textiles, will benefit greatly from the scheme. Many jobs will be created if investments are successful. A one-crore capital investment in the textile sector can generate approximately 70 jobs, and no other industry has that potential. Furthermore, increased production will generate GST revenue. Overall, it will be a win-win situation. PLI scheme appears to offer significant opportunities, particularly for two industries: MMF apparel and spinning. “In the MMF space, there are a few Tamil Nadu players who have built domestic as well as export businesses. Under the PLI scheme, these companies could aim for a 100 crore project. Additionally, spinning players could advance to the fabric (processed) business level, if not the apparel level. “Standalone spinners should look into investing in this programme because it will be a natural progression for them – from basic products to finished products,” said Prabhu Dhamodharan, Convenor of the Coimbatore-based Indian Texpreneurs Federation.