Sivaramkrishanan Ganapathi, Managing Director, Gokaldas Exports says, the newly approved production linked incentive (PLI) scheme will benefit his company from FY24 onwards. India’s leading garment manufacturer and exporter based out of Bengaluru, Gokuldas Exports has a turnover of over Rs 1,000 crore with a diverse workforce of over 20,000 employees at 23 factories located in the states of Karnataka, Andhra Pradesh and Tamilnadu.

Ganapathi believes, the scheme will boost MMF investments in India. It will not bring in any benefits for the company in FY23 as it already has a strong order book and expects strong growth during the year. The Indian government approved 61 companies for the textile production linked incentive (PLI) scheme with investments worth Rs 19,000 crore and an expected turnover of Rs 1.84 lakh crore in 5 years. It hopes to accelerate India’s textile exports to $100 billion and create 2.4 lakh new jobs during the period.