Cabinet approves Rs 10,683 crore PLI scheme for textile sector

The cabinet has approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for the textiles sector. The decision is aimed to boost domestic manufacturing and exports. The PLI Scheme is for textiles for MMF Apparel, MMF Fabrics, and 10 segments/ products of technical textiles with a budgetary outlay of Rs. 10,683 crore.

PLI scheme for textiles is part of the overall announcement of PLI Schemes for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs. 1.97 lakh crore. The minimum production in India is expected to be around Rs. 37.5 lakh crore over 5 years and minimum expected employment over 5 years is nearly 1 crore with this scheme.

Boost employment, trade

The incentive structure has been so formulated that the industry will be encouraged to invest in fresh capacities in these segments. This will give a major push to growing high value MMF segment which will complement the efforts of the cotton and other natural fiber-based textiles industry in generating new opportunities for employment and trade.

It is estimated that over the period of five years, the PLI Scheme for textiles will lead to a fresh investment of more than Rs.19,000 crore. A cumulative turnover of over Rs.3 lakh crore will be achieved under this scheme. It will create additional employment opportunities of more than 7.5 lakh jobs in this sector and several lakhs more for supporting activities. The textiles industry predominantly employs women, and will empower women and increase their participation in formal economy

The technical textiles segment is a new age textile, whose application in several sectors of the economy, including infrastructure, water, health and hygiene, defense, security, automobiles, aviation, etc. will improve the efficiencies in those sectors of the economy.

(With inputs from Press Information Bureau)