India's textile stocks gain on govt's production incentives

Nahar Spinning Mills

08/09/2021 10:24

** Indian textile cos Arvind Ltd  ARVN.NS , Filatex Ltd
 FLTX.NS , Gokaldas Exports  GOKL.NS , VIP Clothing Ltd
 VIPC.NS , Alok Industries  ALOK.NS , Bannari Amman Spinning
Mills Ltd  BASP.NS , Nahar Spinning Mills Ltd  NHRS.NS  rise
between 2% and 11%
    ** India will provide production incentives of 106.83 bln
rupees ($1.45 bln) for textile sector over 5 years  urn:newsml:reuters.com:*:nFWN2QA00J
    ** India last year announced a proposal to provide
production-linked incentives of about 2 trillion rupees over
five years to create jobs and boost manufacturing in the country
in sectors including automobile, textile and pharma
    ** Production-linked incentives are part of the country's
effort to create "champion" sectors to attract investment and
comes amid calls by Prime Minister Narendra Modi to be
self-reliant as a nation 
    
    

($1 = 73.5550 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
nallur.sethuraman.thomsonreuters.com@reuters.net))