Government approves 61 PTI scheme applications from textile businesses

By

Isabelle Crossley

Published
Apr 15, 2022

On April 14, the government announced that it has approved 61 applications for its production linked incentive scheme for textiles which has an investment potential of over Rs 19,000 crore.

Union Textile Secretary U P Singh said that, out of the 67 proposals the government received under the PLI scheme for the textiles sector, 61 were approved with a proposed investment of Rs 19,077 crore. The projected turnover of the businesses receiving the investment is Rs 184,917 crore, Singh said on Thursday, the Press Trust of India reported. 
 
The PLI scheme for textiles is designed to enhance India's manufacturing capabilities and increase its exports. The scheme covers man-made fibre apparel, MMF textiles, and technical textiles and has an approved financial outlay totalling Rs 10,683 crore over a five-year time period. 

The PLI scheme is available for businesses in numerous industries including pharmaceuticals. 
“Through Production Linked Incentive Scheme, the government has tried to reduce imports by encouraging domestic manufacturing of pharmaceuticals,” said Union Minister of Chemicals and Fertilisers Mansukh Mandaviya on Thursday, Livemint reported. “PLI scheme has led to initiate production of more than 35 products in India.”
 
Mandaviya also stated that there is a need for a 25-year plan for the industry.

“Government is helping industry by amending Drugs and Cosmetics Act, 1940 and promoting Ease of Doing Business,” said Mandaviya. “We are involving industry in decision-making processes.”