The official release states that the textile PLI scheme promotes high-value production and its structure is designed to encourage the industry to invest in new capabilities in these segments.
The government has also previously launched a national technology textile mission to facilitate R & D efforts in that area. The release states that PLI will help attract more investment in this segment.
Priority will be given to ambitious districts for investment, Tier 3 and Tier 4 towns, and rural areas. He added that the plan would have a positive impact on Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana and Orissa.
The textile PLI scheme is estimated to lead to over 19,000 new investments, over 3 racks of cumulative sales, and over 7.5 racks of additional employment opportunities over a five-year period.
Welcomed by this decision, A Sakthivel, chairman of the Apparel Export Promotion Council (AEPC), said it would become a “game changer” for the textile industry, transforming India’s growth story and promoting industrial development in underdeveloped regions. ..
Fiber2Fashion News Desk (DS)
India today approved a 10-segment production-linked incentive (PLI) scheme for textiles for artificial textiles (MMF) apparel, MMF fabrics, and technical textiles with a budget expenditure of 10,683 chlores. This is part of the announcement of the 13-sector PLI scheme in the previous union budget presentation, with spending of Rs 197,000.
Indian Cabinet Approves Textile PLI Scheme
Source link Indian Cabinet Approves Textile PLI Scheme