Economic Watch: India'S Production Incentive Plan Attracts Attention Of Various Countries

Currently, the Indian government has launched the production hook incentive scheme (PLI) for 102 products in the chemical fiber clothing, chemical fiber fabrics and high performance textiles. India's government's production linked incentive program (PLI) aims to pass an investment proposal of 1900 billion rupees (about 24.774 billion US dollars), grant 1068.3 billion rupees (about 13.930 billion US dollars) subsidies, create 750000 jobs and 3 trillion rupees of turnover (about 39.117 billion US dollars). According to the Ministry of textile, 61 investment projects have been approved with a total investment of 1907.7 billion rupees (about 24.874 billion US dollars), which will create 240000 jobs, and the total turnover is expected to reach 18291.7 billion rupees (about 238.505 billion US dollars), and 17 of these projects will be invested in the field of high-performance textiles, It accounted for more than 25%.

In the first part of the PLI plan, 13 investment proposals have been approved, with a total investment of 100.61 billion rupees (about 13.119 billion US dollars), the total turnover will reach 8868.9 billion rupees (about 115.641 billion US dollars), and the 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. It is estimated that the total amount of investment in four items of high-performance textiles will be 382.9 billion rupees (about 4.993 billion US dollars), the total turnover of the selected companies will reach 3545.8 billion rupees (about 46.234 billion US dollars), and will receive subsidies of 123.6 billion rupees (about 1.612 billion US dollars).

The total amount of investment to be approved is about US $2.599 billion (about US $2.594 billion) of the total investment. 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. It is estimated that the total investment of 13 items of high-performance textiles will be 227.6 billion rupees (about 2.968 billion US dollars), the turnover will reach 2922.2 billion rupees (about 38.103 billion US dollars), and the subsidy will be 77.8 billion rupees (about 1.014 billion US dollars).

With the popularity of high-performance textiles, global investment in this field is growing, involving 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 proposal are from the United States, Israel, South Korea, Germany, Sri Lanka and Japan, and the main supplier of high-performance textiles is China.