ITF presented its views on challenges and opportunities from the textile and apparel sector at the Industry Interaction meeting.
Coimbatore: Prabhu Dhamodharan, Convenor of the Indian Texpreneurs Federation (ITF) lauded the Industry Interaction meeting with the Tamil Nadu Chief Minister, M K Stalin in Coimbatore saying that it was a welcome move since ITF was able to present its views on challenges and opportunities from the textile and apparel sector.
"We presented the following suggestions and requests to the TN Govt - Introducing the TN State PLI scheme for textile and apparel sector since the PLI scheme can help the TN Textile sector SMEs to scale up and use the China Plus one opportunity. With the PLI scheme, textile companies can invest in new capacities and build scale and competitiveness.
The Government's spending on this scheme can be justified with increased state revenue, new job creation and exports growth. We estimate that the State PLI can bring an additional Rs.15,000 crore exports from the state in the next five years with an opportunity to create employment for 3 lakh people. The TN State Government is also giving a lot of thrust to the manufacturing sector with progressive schemes, and the State PLI for textile sector can be a game changer for our textile and apparel sector. We from ITF will present a detailed report on this scheme to the State Government in the coming days.
The CM assured us of the State Government’s continuous attention towards industry issues and highlighted the need to invest in manufacturing value-added products to capitalise opportunities in global markets," reiterated Prabhu Dhamodharan, Convenor of ITF.
"We presented the following suggestions and requests to the TN Govt - Introducing the TN State PLI scheme for textile and apparel sector since the PLI scheme can help the TN Textile sector SMEs to scale up and use the China Plus one opportunity. With the PLI scheme, textile companies can invest in new capacities and build scale and competitiveness.
The Government's spending on this scheme can be justified with increased state revenue, new job creation and exports growth. We estimate that the State PLI can bring an additional Rs.15,000 crore exports from the state in the next five years with an opportunity to create employment for 3 lakh people. The TN State Government is also giving a lot of thrust to the manufacturing sector with progressive schemes, and the State PLI for textile sector can be a game changer for our textile and apparel sector. We from ITF will present a detailed report on this scheme to the State Government in the coming days.
The CM assured us of the State Government’s continuous attention towards industry issues and highlighted the need to invest in manufacturing value-added products to capitalise opportunities in global markets," reiterated Prabhu Dhamodharan, Convenor of ITF.