State to support industries investing under PLI scheme

The State government has said it would support the industries investing under the recently approved Production Linked Incentive (PLI) scheme in the State, according to industry sources who participated in a meeting in Chennai on Tuesday.

Minister for Handlooms and Textiles, Khadi and Village Industries Board R. Gandhi, Secretary Apoorva, and Additional Secretary of Union Ministry of Textiles Vijoy Kumar Singh, participated in the meeting with the textile and clothing industry players in the State.

The sources said the investors had only two years as investment period to avail themselves of benefits under the scheme. Hence, they should get all approvals from the State government within a stipulated period.

“The Minister and the officials were very supportive and have said the State government will provide all clearances under the single window system. The State government plans to have a separate department for textiles and it will help the investors of the Scheme,” said K. Selvaraju, secretary general, Southern India Mills’ Association, who participated in the meeting.

The industry is waiting for details of products that will be covered under the Scheme.

Many in Tamil Nadu have expressed interest and are likely to invest, Mr. Selvaraju said.

Mr. Singh told presspersons the investors would have to form a separate company, a 100 % subsidiary, to benefit from the PLI scheme. The Central and State governments are keen on generating employment opportunities and the Scheme will support industries to create jobs.

Mr. Selvaraju added that Tamil Nadu’s main strength is in cotton textiles and hence, the industry has appealed to the Centre to cover high-end cotton products too under the PLI scheme.

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Printable version | Oct 27, 2021 5:07:51 PM |

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