The Central Government of India, on Wednesday announced a Production Linked Incentive (PLI) Scheme for the textile industry, giving thrust for top global traded value textile products that includes 42 Man-made Fiber (MMF) garments, 14 MMF Finished fabrics and 10 technical textile products.
The Cabinet has approved incentives worth Rs. 10,683 crores aiming at attracting an investment of Rs. 19000 crore achieving additional turnover of Rs. 3 lakh crore in five years and create new jobs for 7.5 lakh people, especially women.
S. K. Sundararaman, Chairman, Indian Technical Textiles Association said “PLI is the landmark scheme for the MMF and Technical Textiles that would give a new lease of life for these segments. He thanked the Prime Minister and Textiles Minister for announcing such a unique scheme for the first time in the history of Ministry of Textiles.”
“He said the scheme would accelerate creation of world-class champions in a short span of time in MMF and technical textile products global trade.”