The companies have pledged to invest US$ 2.32 billion (Rs 19,077) crore over five years under the scheme, which will lead to an incremental turnover of US$ 22.55 billion (Rs 1.85 trillion) and direct employment generation for 240,000 people. 10,683 crore) production-linked incentive (PLI) scheme for the labour-intensive textiles and garment sector. The textile ministry has selected 61 companies, including Arvind Limited to enjoy benefits under its US$ 1.3 billion (Rs.This will result in a 75 TPD increase in yarn production capacity. With top-notch technology, the expansion includes over 100,000 spindles in total. By establishing two new facilities in Madhya Pradesh, the company has also increased its capacity to produce yarn. ![]() Vardhman has established Vardhman ReNova, a cotton recycling facility with a six TPD production capacity.Sutlej Textiles plans to set up a green field project for 89,184 spindles comprising of cotton mélange yarn and PC grey yarn along with dye house in Jammu & Kashmir with an estimated cost of US$ 111.41 million (Rs.In March 2022, Reliance Retail Ventures Limited (RRVL) acquired a controlling share of Purple Panda Fashions for US$ 115.8 million.In April 2022, Indo Count Industries bagged the home textile business of GHCL for US$ 74.14 million.The textiles sector has witnessed a spurt in investment during the last five years. The industry (including dyed and printed) attracted foreign direct investment (FDI) worth US$ 4.2 billion from April 2000-March 2023. In order to attract private equity and employee more people, the government introduced various schemes such as the Scheme for Integrated Textile Parks (SITP), Technology Upgradation Fund Scheme (TUFS) and Mega Integrated Textile Region and Apparel (MITRA) Park scheme. India’s textiles industry has a capacity to produce a wide variety of products suitable for different market segments, both within India and across the world. The close linkage of textiles industry to agriculture (for raw materials such as cotton) and the ancient culture and traditions of the country in terms of textiles makes it unique in comparison to other industries in the country. The decentralised power looms/ hosiery and knitting sector form the largest component of the textiles sector. The fundamental strength of the textile industry in India is its strong production base of a wide range of fibre/yarns from natural fibres like cotton, jute, silk and wool, to synthetic/man-made fibres like polyester, viscose, nylon and acrylic. ![]() The industry is extremely varied, with hand-spun and hand-woven textiles sectors at one end of the spectrum, with the capital-intensive sophisticated mills sector at the other end. India’s textiles sector is one of the oldest industries in the Indian economy, dating back to several centuries.
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