Production Linked Incentive (PLI) Scheme for man-made fibre segment and technical textiles

To boost domestic production making Indian textile sector globally competitive thereby generating huge employment opportunities

On September 8, 2021, the Union cabinet approved Production Linked Incentive (PLI) Scheme for man-made fibre segment and technical textiles. Commerce Minister Piyush Goyal and Information and Broadcasting Minister Anurag Thakur gave the details in a media briefing after the approval. The main aim of this scheme is to boost domestic production. Thereby more employment opportunities will be generated. It aims at making Indian textile sector globally competitive. It aims at promoting manufacture of high value MMF fabric, garments and technical textiles in the country. Total outlay approved for the scheme is Rs. 10,683 crores. This is a crucial step towards Aatmanirbhar Bharat and it empowers the same vision.

Scheme Overview:

Scheme nameProduction Linked Incentive (PLI) Scheme for man-made fibre segment and technical textiles
Scheme UnderCentral Government
Approval DateSeptember 8, 2021
BeneficiariesManufacturers in the man-made fibres and textile industry
Major ObjectiveTo boost domestic production making Indian textile sector globally competitive thereby generating huge employment opportunities.

Scheme Objectives and Benefits:

  • The main objective of the scheme is to increase domestic production.
  • This scheme will enable to generate more than 7.5 lakh employment opportunities in this sector and several other in allied sectors.
  • Under this scheme manufacture of high value MMF fabric, garments and technical textiles will be promoted.
  • Incentive structure is formulated under this scheme to encourage industries to invest in different capacities.
  • Over a period of five years the scheme will attract fresh investment of more than Rs. 19,000 crores and a turnover of more than Rs. 3 lakh crores.
  • This scheme will also enable increased productivity.
  • In the long run, it will impact increased economic growth and development.

Scheme Details:

  • Union cabinet approved Production Linked Incentive (PLI) scheme for man-made fibre segment and technical textiles on September 8, 2021.
  • Commerce Minister Piyush Goyal and Information and Broadcasting Minister Anurag Thakur provided the scheme details.
  • This scheme is a part of PLI schemes for 13 sectors announced in the union budget 2021-22.
  • This scheme focuses to boost the domestic production.
  • It aims at making Indian textile sector globally competitive.
  • It tends to generate employment opportunities in the textile sector.
  • Under this scheme the department will promote manufacture of high value MMF fabric, garments and technical textiles.
  • It will also contribute to boost the production of man made fibres.
  • Incentive structure will be formulated for fresh investments.
  • It will give a boost to the MMF segment thereby supporting cotton and other natural fibre based textiles.
  • Textiles industry employs women in a large number and this scheme will contribute in providing growth opportunities and empowering them.
  • Over the next 5 years fresh investment of Rs. 19,000 crore and turnover of 3 lakh crore is expected by the government.
  • Total outlay approved for the scheme is Rs. 10,683 crores.
  • PLI scheme is a vital step towards Aatmanirbhar Bharat and Make in India mission.

Comments

Leave a Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Comments

0 comments

Delhi Government’s Seed Money Scheme

Pragyan Bharati Scheme, Assam