Government Approves Rs 10,000 Crore Scheme For Textiles Sector

The government approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for the textiles sector on Wednesday, September 8, in order to boost domestic manufacturing and exports

The government approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for the textiles sector on Wednesday, September 8, in an aim to boost domestic manufacturing and exports. The decision was taken by the Cabinet chaired by Prime Minister Narendra Modi. The incentives will be provided to the textile sector for a period of five years, according to the government. The PLI scheme approved for the sector is for MMF (man-made fibre) apparel, MMF fabrics and 10 segments or products of technical textiles with a budgetary outlay of Rs 10,683 crore. The production-linked incentive scheme for textiles is part of the overall announcement of the scheme for 13 sectors made earlier during Budget 2021-22, with an outlay of Rs 1.97 lakh crore. With the PLI schemes for these 13 sectors, the minimum production in the country is expected to be around Rs. 37.5 lakh crore over a period of five years and the minimum expected employment over five years is around 1 crore.