Govt. clears ₹10,683 cr. textiles PLI plan
The Hindu
Incentives aim to boost investment in new capacities in man-made fibre apparel, technical textiles
The Union Cabinet on Wednesday approved a ₹10,683 crore Production Linked Incentive (PLI) scheme for the textile sector with a view to “helping India regain its historical dominant status in global textiles trade”. The scheme’s incentive structure is designed to encourage investment in fresh capacities in man-made fibre (MMF) apparel, MMF fabrics, and 10 segments or products of technical textiles. The government expects the scheme to help attract fresh investment of more than ₹19,000 crore, creating an additional 7.5 lakh direct jobs. Describing the move as a “game changer”, Union Minister for Textiles, Commerce and Industry, Consumer Affairs, Food and Public Distribution Piyush Goyal told The Hindu that any investment in the sector would have a multiplier effect especially in terms of job creation. “ The PLI as a whole is a game changer. And, for textiles it will be a big, big boost. Because... you create maximum employment in the textile sector, for every rupee invested,” he added.
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