Latest News | Textile Body Seeks PLI Scheme in TN

Coimbatore, May 19 (PTI) Indian Texpreneurs Federation (ITF), a major textile body, on Thursday requested Tamil Nadu Chief Minister M K Stalin to introduce a production-linked incentive scheme, which can help the textile sector and SMEs in the State to scale up.

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With the scheme, textile companies can invest in new capacities and build scale and competitiveness. The State government spending on the scheme can be justified with increased revenue, new job creation and export growth.

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"We estimate that PLI in Tamil Nadu can bring an additional Rs 15,000 crore rhrough exports from the State in the next five years with an opportunity to create employment for three lakh people," ITF convener Prabhu Dhamodharan said.

The government is giving a lot of thrust to the manufacturing sector with progressive schemes and the PLI in the State for the textile sector can be a game-changer for the textile and apparel sector, he said after a meeting with Stalin.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)