New Delhi: Union Cabinet on Wednesday extended the incentive scheme (PLI) related to the textile sector.
Under the scheme, incentives worth RS 10,683 Crore will be given to production to this sector for 5 years.
Giving media direction after the cabinet met, chaired by Prime Minister Narendra Modi, Minister of Union Piyush Goyal and Anurag Thakur said that the decision had been taken with the aim of improving domestic manufacturing and export.
This is the way the PLI scheme will benefit this sector: * The scheme has been expanded to include textiles for MMF clothing (man-made fiber), MMF cloth and ten technical textile segments / products.
* Investment worth RS 19,000 Crore will be made in 5 years.
* This will help create jobs for more than 7.5 lakh people directly and some lakh work for supporting activities.
* The aim is to help Indian companies appear as global champions.
* This scheme will also open the way for women’s participation in this sector in large quantities.
* This will also allow H to make high priority investments in Aspirational District and Tier-3 and Tier-City cities.
* The pli scheme will be a positive impact stating like Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana, Odisha.
* The PLI scheme for textiles is part of the total announcement of the scheme for 13 sectors made previously during the Union 2021-22 budget, with RS 1.97 lakh crore expenditure.