Mar 14, 2022
Textiles Ministry receives 67 applications for PLI scheme
Mar 14, 2022
The Ministry of Textiles has received 67 applications for its production linked incentive scheme from man-made fibre garment businesses, technical textile businesses, and MMF fabric businesses wishing to avail its benefits.
With the aim of boosting exports, generating jobs, and increasing domestic manufacturing, the Union Government has approved Rs 10,683 crore in funding for the textile sector, the Press Trust of India reported. The PLI scheme for textiles can be used to generate funding for categories including 40 MMF garment items, 14 MMF fabric goods, and 10 technical textile products.
“We have taken a number of steps to promote growth of the technical textile sector,” said Textiles Secretary U B Singh at an event organised by the Confederation of Indian Industry on March 12, the Press Trust of India reported.
“There has been a very good response for the PLI scheme. As many as 67 companies have made applications for being a part of the PLI for MMF and technical textiles and against our expectations of over Rs 19,000 crore investments, these companies have shown that they would be investing like Rs 22,000 to 23,000 crore in the MMF and technical textiles.”
State Minister for Textiles Darshana Vikram Jardosh also spoke at the CII event and that there is, “huge scope...to tap the global market in the sector.”
Jardosh highlighted the PLI scheme, PM-MITRA, and National Technical Textiles Mission ad initiatives which should help grow the industry.
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