In November 2020, Indian government announced a huge budget for PLI scheme for ten sectors including textile products. The man-made fibres (MMF) and technical textiles (TT) segments were to be provided an incentive from a corpus of ₹10,683 crore over 5 years. According to industry experts, this would boost Indian textiles manufacturing in MMF & TT segments.
In November 2020, Indian government announced a huge budget for PLI scheme for ten sectors including textile products. The man-made fibres (MMF) and technical textiles (TT) segments were to be provided an incentive from a corpus of ₹10,683 crore over 5 years. According to industry experts, this would boost Indian textiles manufacturing in MMF & TT segments.#
The ministry of textiles has isolated 50 key segments of textiles and apparels such as sanitary pads, tampons, sweaters, and jerseys, to introduce under the PLI scheme.
In November 2020, Indian government announced a huge budget for PLI scheme for ten sectors including textile products. The man-made fibres (MMF) and technical textiles (TT) segments were to be provided an incentive from a corpus of ₹10,683 crore over 5 years. According to industry experts, this would boost Indian textiles manufacturing in MMF & TT segments.#
Experts suggest that MMF and TT segments have a huge demand globally but exports from India are comparatively low. The 40 HS lines of MMF and 10 HS lines of TT accounted for approximately $180 billion world trade. Hence, it is expected to get investments in these segments which includes high value-added products.
In November 2020, Indian government announced a huge budget for PLI scheme for ten sectors including textile products. The man-made fibres (MMF) and technical textiles (TT) segments were to be provided an incentive from a corpus of ₹10,683 crore over 5 years. According to industry experts, this would boost Indian textiles manufacturing in MMF & TT segments.#
Currently, India’s growth in these segments is comparatively low with expensive raw materials and high tariff barriers apart from cheaper imports from neighbouring countries.
In November 2020, Indian government announced a huge budget for PLI scheme for ten sectors including textile products. The man-made fibres (MMF) and technical textiles (TT) segments were to be provided an incentive from a corpus of ₹10,683 crore over 5 years. According to industry experts, this would boost Indian textiles manufacturing in MMF & TT segments.#
The PLI scheme would allow India to significantly compete on MMF based garments as well like jerseys and sportswear and would increase the export potential manifold as traditionally India has been able to compete in the international market only on cotton apparel but not on MMF based apparel due to high import duties of raw materials.
In November 2020, Indian government announced a huge budget for PLI scheme for ten sectors including textile products. The man-made fibres (MMF) and technical textiles (TT) segments were to be provided an incentive from a corpus of ₹10,683 crore over 5 years. According to industry experts, this would boost Indian textiles manufacturing in MMF & TT segments.#
The garment sector is expected to benefit the most as more avenues have opened for MMF based garment production as well as exports.
In November 2020, Indian government announced a huge budget for PLI scheme for ten sectors including textile products. The man-made fibres (MMF) and technical textiles (TT) segments were to be provided an incentive from a corpus of ₹10,683 crore over 5 years. According to industry experts, this would boost Indian textiles manufacturing in MMF & TT segments.#
Fibre2Fashion News Desk (JL)
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