NEW DELHI, 08 September 2021: FICCI welcomes another landmark decision taken by the Union Cabinet led by Hon’ble Prime Minister for the textiles sector. Welcoming the decision on PLI for textiles sector Mr Dilip Chenoy, Secretary General, FICCI, said, “It’s another major announcement for the textiles sector which would attract more investments and help India to capture significant share in large globally traded items of technical textiles and man-made textiles. Man-made and technical textiles are the growing sectors of the industry globally with immense domestic potential too. India can be a global player in these sectors with the support of PLI and would also help in creating large scale employment.”
PLI scheme for textiles has come at an opportune time when world is also looking at alternate sourcing options and Indian industry needs support to grab this opportunity. There is an opportunity for India to double its share in next 5 years and take share of China (which is currently 35%).
Mr S K Khandelia, Co- Chair, FICCI Textiles & Technical Textiles Committee said, “The Technical Textiles segment is a new age textile, whose application in several sectors of economy, including infrastructure, water, health and hygiene, defense, security, automobiles, aviation will improve the efficiencies in those sectors. Similarly, MMF textiles are shaping up the textile’s consumption pattern across the globe. According to me, this is a crucial step towards making Indian textile manufacturing competitive and making the textile industry ready for a global footprint. By boosting domestic manufacturing and exports, I am sure that India will soon attain the status of self-reliance in the focused segments.”
Mr Rajeev Gopal, Co- Chair, FICCI Textiles & Technical Textiles Committee said, “Indian Textiles industry welcomes the Cabinet decision on PLI for textiles sector focused on manufacturing of MMF-based products and technical textiles. By focusing on these two high potential segments, the PLI scheme for textiles is expected to further diversify the base of Indian textiles industry. The PLI scheme would enhance India’s manufacturing capabilities by increasing investment and production in the focused segments.”