Life Style

Indian Cabinet Approves Textile PLI Scheme

The Indian Cabinet 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 scheme is part of the 13-sector PLI scheme announcement made during the previous union budget presentation, with a spending of Rs 197,000.

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

Back to top button