The domestic textiles market and its entire value chain contribute to 7 percent of the country’s manufacturing production and 2.3 percent of the GDP. Given this fact, the Ministry of Textiles, Govt. of India, is considering optimizing this industry by leveraging improved textile machinery. According to a PTI report, the textile ministry has contacted some of the country’s most prestigious engineering institutions in order to educate the Indian domestic industry on the importance of textile machinery.
Smriti Irani, our textile minister, ensured that they updated the institutions about their support to make things happen. Ministry also approached the department of heavy industry regarding the situation.
The textile minister spoke about how they interacted with institutions and explained the textile machinery requirements in today’s scenario in a webinar hosted by Swarajya Magazine.
She also discussed the production-linked incentive (PLI) scheme, which aims to provide companies with incentives based on incremental sales from factory-made goods in domestic units. She also emphasized the creation of mega investment textile parks (MITRA), which focuses on infrastructure development and automated configuration facilities to improve the quality of exports.Textile minister Smriti Irani is considering these two areas as a priority.
When asked about the PLI, she said that now that the necessary groundwork has been laid, it is time to act.
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