Indian cabinet approves PLI scheme for textiles

The Indian cabinet today approved the production-linked incentive (PLI) scheme for textiles for man-made fibre (MMF) apparel, MMF fabrics and 10 segments and products of technical textiles with a budgetary outlay of ₹10,683 crore. This scheme is part of the announcement of PLI schemes for 13 sectors made during the last union budget presentation, with an outlay of ₹1.97 lakh crore.

The PLI scheme for textiles will promote high-value production and its structure has been so formulated that the industry will be encouraged to invest in fresh capacities in these segments, an official release said.

The government had also launched earlier a National Technical Textiles Mission for promoting research and development efforts in that sector. PLI will help attract more investment in this segment, the release said.

India today approved the production-linked incentive (PLI) scheme for textiles for man-made fibre (MMF) apparel, MMF fabrics and 10 segments and products of technical textiles with a budgetary outlay of ₹10,683 crore. This is part of the announcement of PLI schemes for 13 sectors during the last union budget presentation, with an outlay of ₹1.97 lakh crore.

Priority will be accorded to aspirational districts, tier 3 and tier 4 towns and rural areas for investment. The scheme will have a positive impact on Gujarat, Uttar Pradesh , Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana and Odisha, it added.

It is estimated that over five years, the PLI Scheme for textiles will lead to fresh investment of more than ₹19,000 crore, a cumulative turnover of over ₹3 lakh crore and additional employment opportunities for over 7.5 lakh.

Welcoming the decision, Apparel Export Promotion Council (AEPC) chairman A Sakthivel said that it will be a ‘game changer’ for the textile industry, will transform India’s growth story and will promote industrial development in backward regions.

Fibre2Fashion News Desk (DS)