Production Linked Incentive (PLI), a massive scheme for Indian textile and apparel industry, has been finalised by Ministry of Textiles (MoT) as Piyush Goyal, Union Textile Minister signs the proposal regarding the same.
As per the media reports, the scheme would soon be taken up by the Union Cabinet for approval.
MoT has been working on the scheme since almost last eight months.
In recent days, MoT has been holding brainstorming sessions with industry stakeholders about this scheme and exchanging ideas.
To boost Indian textile and apparel manufacturing industry by increasing exports, the PLI scheme could turn out to be a game changer.
Around 40 MMF apparel product categories – with around 10 in the technical textile category – can be covered in this scheme.
Besides, an incentive of 3 to 11 per cent of the incremental revenues year-on-year for five years may be provided to existing as well as proposed investments in the sector.
For this scheme, Rs. 10,680-crore corpus will be provided by the Government. Notably, it will be executed through the Focus Product Incentive Scheme (FPIS) to create global champions in MMF and technical textile sectors.
Source : https://in.apparelresources.com/