Govt approves 61 proposals for PLI scheme investments of over Rs 19,000 crore

June 20, 2022 written by

Textile Secretary UP Singh said that a total of 67 proposals were received under the PLI scheme for the textile sector. The proposed investments expected from the approved applicants are Rs. 19,077 crore and the projected turnover is Rs.1,84,917 crore, Singh said.

The Government said it has approved 61 applications from companies including Ginni Filaments, Kimberly Clark India Pvt. Ltd., and Arvind Ltd with an investment potential of over Rs. 19,000 crore under the production linked incentive (PLI) scheme for textiles.

The GOI-approved PLI scheme for textiles announced last year includes Natural Fibres, MMF, apparel, fabrics, and technical fabrics, for enhancing manufacturing capabilities and boosting exports, with an approved financial outlay of Rs.10,683 crore over a 5-year period.

In Part 1, the minimum investment requirement is Rs. 300 crores and the minimum turnover required to be achieved for the incentive is Rs. 600 crores, and in Part 2, the minimum investment should be around Rs. 100 crore and the minimum turnover is Rs. 200 crore.

The companies whose proposals have been approved include Avgol India Pvt. Ltd., Goa Glass Fibre Ltd.,H.P. Cotton Textile Mills., Kimberly Clark India Pvt. Ltd., Madura Industrial Textiles, MPCI Pvt. Ltd., Pratibha Syntex., Shahi Exports, Trident Ltd., Donear Industries, Gokuldas Exports and Arvind Ltd.

The investment proposal of Arvind Ltd is worth Rs. 170 crore, Ginni Filaments Ltd is Rs. 180 crores, Gokaldas Exports is Rs. 143 crores and Kimberly Clark India Pvt. Ltd is Rs. 308 crores. Of the 61 proposals, 7 are from foreign companies. Autoliv India Pvt. Ltd (Rs. 193 crore) , Avgol India Pvt. Ltd (Rs. 585 Crore), Evertop Textiles & Apparel Complex Pvt. Ltd., (rs. 379 crore) and Teejay India Pvt. Ltd (Rs. 20 crores)

Singh said that the scheme would help India increase its share in the global Man-made fibre and technical textiles sector.

Talking about the Mega Investment Textiles parks (MITRA) scheme, the secretary said they have received 17 proposals from 13 states, including Madhya Pradesh (4) and Karnataka (2).

Share on FacebookShare on Google+Pin on PinterestTweet about this on TwitterShare on LinkedIn
Article Categories:

Leave a Comment

Your email address will not be published. Required fields are marked *