Textile PLI Scheme: Boosting Investment and Competitiveness

The Textile Ministry has approved 17 new applicants for the Production Linked Incentive Scheme, promoting investment in Man-Made Fibre and Technical Textiles. This initiative aims to significantly increase domestic manufacturing, enhance India's global competitiveness, and generate substantial employment, with a total projected sales value exceeding Rs 12,893 crore.

The government has granted approval to 17 new applicants under the Production Linked Incentive (PLI) Scheme for textiles, as announced by the Textile Ministry on Tuesday. This decision marks the third round of approvals within the framework.

These developments are poised to drive significant investments, bolster domestic manufacturing, and elevate India's standing in the global market, particularly in the areas of Man-Made Fibre (MMF) Apparel, MMF Fabrics, and Technical Textiles.

The newly approved projects have committed to an investment of Rs 2,374 crore, with projections indicating sales surpassing Rs 12,893 crore. It is anticipated that this will generate employment opportunities for approximately 22,646 individuals in the forthcoming years, aiming to expand the textile industry's scale and global competitiveness through the PLI scheme, initially notified in September 2021 with an outlay of Rs 10,683 crore.

(With inputs from agencies.)