The government is focusing on the five Fs. Focuses on textiles to textiles, textiles and foreign fashion.
She said Prime Minister Narendra Modi’s vision for both the PLI scheme and PM Mitra Park will help the industry develop an ecosystem that will reach new heights through business ease and plug and play. PM’s Gati Shakti-National Master Plan for Multimodal Connections heralds a new chapter in governance. According to MoS, the digital platform Gati Shakti will integrate 16 ministries, including rail and road, to enable integrated planning and coordinated implementation of infrastructure connectivity projects.
India’s contribution to artificial fibers in the global market is 25%, and in order to increase this share, the Production Linked Incentive (PLI) scheme and PM Mitra Parks have emerged as strong, with the desired scale. Supports the achievement of size. Darshana Jardosh, Allied State Minister of Textiles (MoS), a competitor in the global market, said.
PM Mitra Park scheme by Prime Minister Modi Aatmanirbhar Bharat And to strongly position India on the textile map of the world. Government of India approves PLI for textiles, namely MMF apparel, MMF fabrics and technical textile products, to strengthen India’s manufacturing capacity and boost exports with approved fiscal spending of 10,683 chlores over five years. did. To further accelerate the growth of the sector, the center has also eliminated import tariffs on cotton.
Indorama has invested in Halol’s factory with less than 100% FDI. The new facility has approximately 12 acres of land sufficient to extend the non-woven line to three high speed lines. The Ministry of Textiles said in a statement that about 17.5 billion rupees were invested in the first phase.
The investment will be 100% FDI from Israel and technology transfer from the Israeli parent company. The factory earns 20 billion rupees and has an annual production capacity of 10,000 MT for special non-woven fabrics. This will help replace the $ 25 million worth of imports and savings forex outflows from the country each year.
Fiber2Fashion News Desk (KD)
PLI scheme, PM Mitra Parks to help expand India’s textile sector: MoS
Source link PLI scheme, PM Mitra Parks to help expand India’s textile sector: MoS