Indian cabinet approves PLI scheme for textiles

The PLI scheme for textiles will promote high-value production and its structure has been so formulated that the industry will be encouraged to invest in fresh capacities in these segments, an official release said.

The government had also launched earlier a National Technical Textiles Mission for promoting research and development efforts in that sector. PLI will help attract more investment in this segment, the release said.

Priority will be accorded to aspirational districts, tier 3 and tier 4 towns and rural areas for investment. The scheme will have a positive impact on Gujarat, Uttar Pradesh , Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana and Odisha, it added.

It is estimated that over five years, the PLI Scheme for textiles will lead to fresh investment of more than ₹19,000 crore, a cumulative turnover of over ₹3 lakh crore and additional employment opportunities for over 7.5 lakh.

Welcoming the decision, Apparel Export Promotion Council (AEPC) chairman A Sakthivel said that it will be a ‘game changer’ for the textile industry, will transform India’s growth story and will promote industrial development in backward regions.

Fibre2Fashion News Desk (DS)