The Coimbatore textile industry has welcomed the Production Linked Incentive (PLI) scheme announced by the Central Government. According to the Southern India Mills Association (SIMA), the scheme provides incentives for manufacture and export of specific textile products made of man-made fibre (MMF).
The scheme will benefit the industry in attracting huge investments. About 40 HS lines in MMF garments and 10 HS lines in technical textiles account for nearly $ 180 billion global trade and, therefore, the scheme will encourage the industry to make investment in manufacture of these high value added products. Apparel Export Promotion Council chairman A. Sakthivel said the scheme would give a boost to exports, investments, domestic capacity and employment. This was a much-needed step as it would fuel the V-shaped recovery that had begun in many sectors, including the apparel sector.
The Indian Texpreneuers Federation convenor Prabhu Dhamodharan said the scheme would enable the apparel sector scale up capacities and also specialise in MMF products. The market for these products was about ₹3 lakh crore in the U.S. alone.
