PLI scheme for textile industry: Here’s all you need to know about Rs 10,683 crore move

The newly launched PLI scheme for the textile industry is a part of the larger PLI scheme that was announced by Finance Minister Nirmala Sitharaman in her budget speech. 

New Delhi: The Union Cabinet in its Wednesday (September 8) meeting, approved the Production-Linked Incentive (PLI) scheme for the textiles sector, a move that is aimed at making India into a manufacturing hub for textiles. The decision was taken in the cabinet meeting chaired by Prime Minister Narendra Modi.   The PLI scheme will offer incentives to firms manufacturing textiles in India. Union Minister Piyush Goyal said that the government hopes to manufacture global champions in the textile industry, banking on the newly launched PLI scheme.  The newly launched scheme for the textile industry is a part of the larger PLI scheme that was announced by Finance Minister Nirmala Sitharaman. With a budgetary outlay of Rs 1.97 crore, the overall PLI scheme will cater to about 13 industries.