The company commits Rs. 100 Crore investment under the PLI scheme
Mumbai (Maharashtra) [India], July 7: Niine Private Limited is selected for the Production Linked Incentive (PLI) Scheme for Textile Industries, approved by Government of India (GOI). Niine was selected based on different criteria like financial capacity, relevant experience, technical capacity, location of the manufacturing unit, etc. Niine applied for the PLI scheme with the intention of supporting the creation of a viable enterprise and competitive textile industry. Niine manufactures high quality sanitary napkins and baby diapers, which are marketed pan India, under the ‘Niine’ brand.
On this occasion, Amar Tulsiyan, Founder, Niine Private Limited, said, “We are extremely happy to be selected for the PLI scheme initiated by the Ministry of Textiles. In the last four years, since our commercial launch, we have witnessed robust growth for our premium yet affordable products. Under the scheme, our commitment is to invest Rs. 100 crores and we are confident of meeting the criteria for PLI incentives through this investment.”
“Niine is a crusader and torchbearer of women’s menstrual dignity and through this scheme, our focus is to create awareness and educate the public about good practices of menstrual health and hygiene, across the length and breadth of our nation, especially in rural areas, with an aim to empower the women with greater confidence and happiness. Niine has adopted the best technologies for production and uses high quality materials in its feminine and baby hygiene solutions to ensure maximum comfort to the user,” Tulsiyan further emphasised.
Niine has been selected under Part 2 of the PLI scheme, which requires a minimum eligible capital investment of INR 100 crore, to be invested by March 31, 2024. Based on the approved capital investment and sales performance starting from FY 2025, Niine will be eligible to claim its production linked incentives over the next 5 years.
PLI Scheme for Textiles is specially focused at high value and expanding Man-Made Fibres (MMF) and Technical Textiles segments of Textiles Value Chain. Incentives worth Rs. 10,683 crores will be provided over five years for manufacturing notified products of MMF Apparel, MMF Fabrics and segments/products of Technical Textiles in India.
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Vaishnavi Prakash
