Textile industry looks at ₹3000 crore additional investment in TN
The Hindu
The textile and clothing industry in Tamil Nadu hopes to attract ₹3000 crore additional investment in man-made fibre (MMF) and technical textile segments with several schemes announced by the Central
The textile and clothing industry in Tamil Nadu hopes to attract ₹3000 crore additional investment in man-made fibre (MMF) and technical textile segments with several schemes announced by the Central and State governments. S.K. Sundararaman, chairman of the Indian Technical Textile Association and vice-chairman of Southern India Mills’ Association , said the Production Linked Incentive Scheme approved on Wednesday by the Union government for the textile sector will make the MMF sector in the country more competitive and will the other incentives now made available, it is expected to attract investments. “People will expand more in their current area of operation,” he said. The technical textiles segment is a new age textiles with huge potentials in the infrastructure, water, health and hygiene, defence, etc. The PLI Scheme and the National Technical Textile Mission already launched by the Government with the budget outlay of ₹1,480 crores will give enormous opportunity for this segment.
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