In the next three to five years, the seven PM MITRA mega textile parks and the PLI plan for man-made fabrics and technical textile goods are expected to attract investments to the tune of Rs 95,000 crore in India’s textile industry, Textiles Secretary Rachna Shah announced on Monday.
She added that in addition to the two programmes, the textile industry would attract investments from a number of other sources, including foreign direct investment (FDI), underscoring the government’s emphasis on fostering “sunrise sectors” of clothing, technical textiles, and man-made fabric.
According to the textiles secretary, “much more substantive outcomes”—including not only Memorandums of Understanding but also investments and business creation—are anticipated from the Bharat Tex 2025 mega textiles event, which is scheduled for February of next year.
“Since we have seven textile parks, it is anticipated that each one will bring in around Rs 10,000 crore in investment, or roughly Rs 70,000 crore plus an additional Rs 25,000 crore under the PLI plan for technical textiles and MMF fibre,” she said.
“A portion of the PLI investments have already been grounded, and these significant investments should come under the schemes themselves in the next three to five years. In addition to the programs, there will undoubtedly be a lot of additional investments, including foreign direct investment and investment from various sources,” the Textile Secretary added.
