Textile sector shares were largely in the green on Wednesday, Nov 19, after the Ministry of Textiles approved 17 new applicants under the third round of the Production Linked Incentive (PLI) Scheme for textiles, signalling a fresh boost for domestic manufacturing and sectoral expansion.
As per early market trends, stocks such as Pearl Global Industries (+2.30%), Le Merite Exports (+1.64%), Nahar Spinning Mills (+1.55%), and Pashupati Cotspin (+1.55%) traded with mild gains, reflecting positive sentiment across the industry. Faze Three, Arvind, Sportking, and Trident also recorded marginal upticks, while Ganesha Ecosphere remained subdued.
The Ministry announced that the newly approved companies have committed ₹2,374 crore in total investment under the MMF Apparel, MMF Fabrics and Technical Textiles categories. The proposed projects are expected to deliver projected sales of ₹12,893 crore and generate 22,646 jobs in the coming years.
The PLI Scheme for Textiles, launched in September 2021 with an outlay of ₹10,683 crore, aims to expand India’s footprint in high-value MMF and technical textile segments, enhance global competitiveness, and scale up domestic production capacities.
With this round, the total number of approved applicants under the scheme has risen to 74, while the ministry has reopened the portal for fresh applications until December 31, 2025, following key amendments to encourage wider industry participation.
