Currently, the India Government has launched the Production Linked Incentive (PLI) for 102 products in the field of manmade clothing, chemical fabrics and high performance textiles. The goal set by the Indian government's PLI program is to pass investment proposals of 1900 billion rupees (about 24.774 billion U.S. dollars), release 1068.3 billion rupees (about 13.93 billion U.S. dollars) in subsidies, create 750,000 jobs and a turnover of 3 trillion rupees (about 39.117 billion US dollars). According to the Ministry of Textiles of India, since the release of the PLI program for the textile industry on December 28, 2021, a total of 61 investment projects have been approved, with a total investment of 190.77 billion rupees (about 24.874 billion US dollars), which will create 240,000 job opportunities, the total expected turnover will reach 18,291.7 billion rupees (about 238.505 billion US dollars), 17 of these projects will be invested in the field of high-performance textiles, accounting for more than 25%.
In the first part of the PLI program, 13 investment proposals were approved, with a total investment of 100.61 billion rupees (about 13.119 billion U.S. dollars), a total turnover of 886.89 billion rupees (about 115.641 billion U.S. dollars), and government subsidies of 339.2 billion rupees ( about 4.423 billion US dollars), including 4 high-performance textiles, 1 chemical fiber clothing and 1 chemical fiber fabric, and the remaining 7 items are other products. The 4 investments in high-performance textiles are expected to total 382.9 billion rupees (about 4.993 billion U.S. dollars), and the selected companies will have a total turnover of 354.58 billion rupees (about 46.234 billion U.S. dollars) and receive 123.6 billion rupees (about 1.612 billion U.S. dollars) subsidy.
In the second part, 48 investment proposals were approved, with a total investment of 901.5 billion rupees (about 11.755 billion U.S. dollars), a turnover of 962.29 billion rupees (about 125.473 billion U.S. dollars), and government subsidies of 262.1 billion rupees (about 3.418 billion rupees). Dollar). Among them, 13 items are high-performance textiles, 9 items are chemical fiber clothing, 6 items are chemical fiber fabrics, and the remaining 20 items are other products. The 13 investments in high-performance textiles are expected to total 227.6 billion rupees (about 2.968 billion U.S. dollars), with a turnover of 292.22 billion rupees (about 38.103 billion U.S. dollars) and subsidies of 77.8 billion rupees (about 1.014 billion U.S. dollars).
With the popularity of high-performance textiles, global investment in this field continues to grow, covering a wide range of industries, including automotive applications, medical textiles, geotextiles, agricultural textiles and protective clothing. According to statistics, the main foreign investors in the approved proposals are from the United States, Israel, South Korea, Germany, Sri Lanka and Japan, and the main supplier in the field of high-performance textiles is China.
