Government’s infrastructure push and its impact on the textile industry

With the Central Government focusing strategically on the Infrastructure sector, the Indian economy is at the cusp of growth. This will have a better impact and will play a significant role in the advancement of the country. India’s Union Budget 2023-24 had a significant focus on improving the overall infrastructure ecosystem, be it the creation of a robust road network, railroads, or airports or by simply creating disruptive projects.

The central government has done a commendable job by focusing its synergies on the infrastructure industry. A budget of spending over US$1.4 trillion, through the ‘National Infrastructure Pipeline’ projects, on infrastructure has been planned for the next five years.

A well-time-bound development plan can be met by 2025 through India’s goal of achieving US$5 trillion. The Government of India (GoI) has launched initiatives such as Make in India and Production-Linked Incentives (PLI) schemes to boost the growth of the infrastructure sector.