New Delhi. Taking steps forward towards the vision of an ‘Aatmanirbhar Bharat’, Government led by Prime Minister Narendra Modi, has approved PLI Scheme for Textiles for MMF Apparel, MMF Fabrics and 10 segments/ products of Technical Textiles with a budgetary outlay of Rs. 10,683 crore.
PLI for Textiles along with RoSCTL, RoDTEP and other measures of Government in sector e.g. providing raw material at competitive prices, skill development etc will herald a new age in textiles manufacturing.
PLI scheme for Textiles is part of the overall announcement of PLI Schemes for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs. 1.97 lakh crore. .
With the announcement of PLI Schemes for 13 sectors, minimum production in India is expected to be around Rs. 37.5 lakh crore over 5 years and minimum expected employment over 5 years is nearly 1 crore.
PLI scheme for Textiles will promote production of high value MMF Fabric, Garments and Technical Textiles in country.
The incentive structure has been so formulated that industry will be encouraged to invest in fresh capacities in these segments.
This will give a major push to growing high value MMF segment which will complement the efforts of cotton and other natural fibre-based textiles industry in generating new opportunities for employment and trade, resultantly helping India regain its historical dominant status in global textiles trade.
Technical Textiles segment is a new age textile, whose application in several sectors of economy, including infrastructure, water, health and hygiene, defense, security, automobiles, aviation, etc. will improve the efficiencies in those sectors of economy.
Government has also launched a National Technical Textiles Mission in the past for promoting R&D efforts in that sector.
PLI will help further, in attracting investment in this segment, an official release said.