The MoS said that the PLI plan is meant to encourage the manufacture of MMF fabrics, MMF apparel, and technical textile goods in order to reach size and scale and become competitive.
Business News
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This growth stems from key Government schemes like Silk Samagra-2, NERTPS, and R&D efforts. Over Rs. 1,075 crore (US $ 126 million) has been disbursed, benefiting 78,000 stakeholders and boosting India's Aatmanirbhar Bharat vision in sericulture.
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Through this collaboration, Indian customers will be able to purchase Victoria's Secret lingerie, sleepwear, and athleisure products via Nykaa's website, mobile app, and retail locations throughout India.
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The brand recently opened its first physical location in Bengaluru, with further plans to open 20 stores in 2 years.
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The development of stores and working capital will be the main areas of investment. By October 2025, the company, which presently operates at several levels, intends to greatly expand its points of sale.
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The business is spending US $ 350 million (Rs. 3,000 crore) on its factories in Warangal and Sitarampur, which are close to Hyderabad, in order to produce 22 lakh garments every day.
