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Government Approves Rs. 10,683 Crores PLI Scheme For Textiles

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Today, the union government has approved a production-linked incentive (PLI) scheme for textiles of Rs. 10,683 crore for the MMF Apparel, MMF Fabrics, and 10 segments or products of technical textiles. The PLI for textile is a part of the overall announcement of PLI Schemes for 13 sectors, with a total outlay of Rs. 1.97 lakh crore. The PLI schemes are aiming for a minimum production of around Rs. 37.5 lakh crore over 5 years, while the minimum expected employment over 5 years will be nearly 1 crore. The PLI for textiles is anticipated to attract fresh investment of more than Rs. 19,000 crore in the upcoming 5 years with a cumulative turnover of over Rs. 3 lakh crore.

 
Government Approves Rs. 10,683 Crores PLI Scheme For Textiles

Union Minister Piyush Goyal commented, "PLI scheme for textiles will promote the production of high-value MMF fabrics, Garments, and Technical Textiles in the country. The incentive structure has been so formulated that the industry will be encouraged to invest in fresh capacities in these segments. This scheme will positively impact especially States like Gujarat, UP, Maharashtra, Tamil Nadu, Punjab, AP, Telangana, Odisha, etc."

This PLI allocation is expected to aid the sector to some extend. The PLI for textile will help to generate "new opportunities for employment and trade, resultantly helping India regain its historical dominant status in global textiles trade", according to Goyal. It is expected to create additional employment of more than 7.5 lakh in this sector and ancillary activities. The apparel industry predominantly employs women, and this PLI will be a step towards women's empowerment in India. Earlier, the union government also launched the National Technical Textiles Mission to promote R&D efforts for the segment that includes infrastructure, water, health and hygiene, defense, security, automobiles, and aviation sectors.

The textile industry in India has been struggling since the implementation of the GST system in the country. The pandemic has also hampered the export market since last year. This new PLI scheme, along with the extension of Rebate of State and Central Taxes and Levies (RoSCTL), the recent announcement of Remission of Duties and Taxes on Exported Products (RoDTEP), providing raw materials at competitive prices, and skill development will help to boost the textiles business and textile manufacturing in India.

Read more about: pli textile india
Story first published: Wednesday, September 8, 2021, 18:32 [IST]
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