Textile players hail Centre’s incentive plans | Coimbatore News

Coimbatore: The Indian Technical Textile Association (ITTA) has hailed the Union government’s decision to approve Rs 10,683 crore for production-linked incentive (PLI) schemes for textile for manmade fibre (MMF) apparel, MMF fabrics and 10 segments/products of technical textiles.
“PLI is a landmark scheme and will give a new lease of life to MMF and technical textiles segments,” said S K Sundararaman, chairman, ITTA. The scheme would accelerate creation of world-class champions in a short span of time in MMF and technical textile products, he said.
The scheme offers two types of investment models – one with Rs 300 crore investment and another with Rs 100 crore with different incentive rates for a period of five years.
The government’s aim is to attract investments in aspirational districts, especially tier-3 and tier-4 towns and rural areas.
States having strong textile eco system like Tamil Nadu, Maharashtra, Gujarat, Telangana, Andhra Pradesh, Rajasthan and Punjab could take advantage of the scheme and attract investments, Sundararaman said. tnn