61 Applicants selected under PLI Scheme, 20000 cr Investment expected creating 2.4 lakh Jobs

at 8:45 pm

New Delhi:  Selection Committee chaired by Secretary, Ministry of Textiles  U.P. Singh has selected 61 applicants under Production Linked Incentive (PLI) Scheme for Textiles.

A total of 67 applications were received for the PLI scheme out of which 15 applications are under Part-1 and 52 applications are under Part-2, official release said.

Addressing the media in a press conference, Secretary, Ministry of Textiles, UP Singh said that in the 61 applications approved the proposed total investment expected from the applicants is Rs. 19,077 crore and a projected turnover is Rs. 184,917 crore over a period of 5 years with a proposed direct employment of 240,134.

The scheme has two parts, Part 1 where minimum investment is Rs. 300 crore and minimum turnover required to be achieved for incentive is Rs.600 crore; and Part-2, where minimum investment is of Rs. 100 crore and minimum turnover required to be achieved for incentive is Rs. 200 crore.

Government approved Production-Linked Incentive (PLI) Scheme for Textiles products, namely MMF Apparel, MMF Fabrics and Products of Technical Textiles, for enhancing India’s manufacturing capabilities and enhancing exports with an approved financial outlay of Rs 10,683 crore over a five-year period.

To further boost the growth of the sector, centre also removed the import duty of cotton.

The Notification for the scheme was issued on 24.09.2021. Operational Guidelines for Production Linked Incentive (PLI) Scheme were issued on 28.12.2021.

Applications under PLI Scheme for Textiles were received through web portal from 01.01.2022 to 28.02.2022.