According to Textiles Secretary Rachna Shah, the seven PM MITRA mega textile parks and the PLI plan for man-made fabrics and technological textile goods are projected to bring in Rs 95,000 crore in investments to India’s textile industry over the next three to five years.
She said that in addition to the two programs, the textile industry would attract investments from a number of other sources, including as foreign direct investment (FDI), underscoring the government’s emphasis on fostering “sunrise sectors” of clothing, technological textiles, and man-made fabric.
According to the textiles secretary, “much more substantive outcomes”—including not just Memorandums of Understanding but also investments and company creation—are anticipated from the Bharat Tex 2025 major textiles event, which is scheduled for February of next year.
Since we have seven textile parks, it is anticipated that each one would 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.
“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. Apart from the schemes, of course a lot of other investment will also be happening, of course there would be FDI and investment from other sources,” the Textile Secretary told PTI.
Tamil Nadu (Virudhnagar), Telangana (Warangal), Gujarat (Navsari), Karnataka (Kalburgi), Madhya Pradesh (Dhar), Uttar Pradesh (Lucknow/Hardoi), and Maharashtra (Amravati) would all see the construction of the seven major textile parks under the PM MITRA program.