Cabinet approves Rs 10,683 crore PLI scheme for textile sector- All you need to know – Times of Nation
NEW DELHI- The Union Cabinet on Wednesday extended the production-linked incentive (PLI) scheme to textiles sector.
Under the scheme, incentives worth Rs 10,683 crore will be provided on production to the sector over a span for 5 years.
Briefing the media after the Cabinet meet, which was chaired by Prime Minister Narendra Modi, Union ministers Piyush Goyal and Anurag Thakur said that the decision has been taken with an aim to boost domestic manufacturing and exports.
Here’s how PLI scheme will benefit the sector-
* The scheme has been extended to cover textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles.
* Investment worth Rs 19,000 crore will be made in 5 years.
* It will help create employment for over 7.5 lakh people directly and several lakh jobs for supporting activities.
* The objective is to help Indian companies emerge as global champions.
* The scheme will also pave way for participation of women in the sector in large numbers.
* It will also enable h to undertake high priority investment in aspirational districts and tier-3 and tier-4 towns.
* The PLI scheme will positively impact states like Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana, Odisha.
* PLI scheme for textiles is part of the overall announcement of the scheme for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs 1.97 lakh crore.
(News Source -Except for the headline, this story has not been edited by Times Of Nation staff and is published from a timesofindia.indiatimes.com feed.)
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