The new production linked incentive (PLI) scheme will expand the size of technical textile industry in India to $5billion in the next 3-5 years, says Shailesh Mehta, Managing Director, Texel Industries. Under PLI the government will offer incentives of around Rs 7,000 crore to man-made fibres and around Rs 4,000 crore to technical textiles. This will make India’s technical textiles globally competitive by creating economies of scale and ensuring efficiencies. The government has also launched a National Technical Textiles Mission in the past for promoting R&D efforts in the sector.
The announcement will cover around 10 product categories in the technical textile category. An incentive of 3 to 11 per cent of the annual incremental revenues' for five years will be provided to existing as well as proposed investments in the sector. Established in 1989, Texel Industries is the pioneer of tarpaulins and geomembranes in India. The company manufactures a wide range of geosynthetic textile products which includes tarpaulins and geomembranes. The company is investing Rs 29.92 crore in setting up a 10,080 MT facility for geosynthetics products at Kheda, Gujarat. This will double installed capacity to more than 19,000 MT per annum. Texcel Industries is also adding six new products to its mix to include metal wrap, lumber wrap, roof tile underlay, geotextiles, floating pond covers and a product to replace billboard flex. These products will contribute significantly to the growth of not only sales but profits of the company.