Agencies
NEW DELHI: Textiles Minister Giriraj Singh on Tuesday said the Government has approved over Rs 10,000 crore production linked incentive (PLI) scheme for textiles and now considering to extend it to the garments sector with a view to boosting domestic manufacturing and exports.
Addressing the India International Garment Fair (IIGF) here, Singh said that huge opportunities are there to increase exports and the industry should target USD 50 billion worth of shipments in the coming years. In 2021, the government approved the PLI scheme for textiles with an approved outlay of Rs 10,683 crore over a five year period to promote production of MMF (man-made fibre) Apparel, MMF Fabrics and Products of Technical Textiles in the country to enable textiles industry to achieve size and scale and to become competitive. “We are considering to cover your (garments) sector also (under the scheme),” Singh said.
He added that the market size of the Indian textiles industry is about USD 165 billion and “we have to take it to USD 350 billion”. He said that the ministry is framing a roadmap to move ahead of China in the sector. The minister suggested the industry to follow ‘hub and spoke’ model to boost domestic manufacturing.
“I appeal to big industry players to engage with small players in India,” he said adding the ministry will hold meetings with big players to understand their issues.
Bangladesh and China are the biggest competitors of Indian industry in the sector.
