New Delhi: Prime Minister Narendra Modi, approved the 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 different government sectors consisting of RoSCTL, RoDTEP and other measures of 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 the minimum expected employment over 5 years is nearly 1 crore.
Also Read: MSP increase for Rabi crops gets cabinet approval
PLI scheme for textiles will promote the production of high-value MMF fabrics, garments and technical textiles in the country. The incentive structure has been so formulated that the industry will be encouraged to invest in fresh capacities in these segments. This will give a major push to the growing high-value MMF segment which will complement the efforts of the cotton and other natural fibre-based textiles industry. This will generate new opportunities for employment and trade, resultantly helping India regain its historical dominant status in global textiles trade.
The technical textiles segment is a new age textile, whose application in several sectors of the economy, including infrastructure, water, health and hygiene, defence, security, automobiles, aviation, etc. will improve the efficiencies in those sectors of the economy. The 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.
Also Read: PM Modi to lay foundation of varsity named after iconic Jat leader in UP
It is estimated that over the period of five years, the PLI Scheme for Textiles will lead to a fresh investment of more than Rs 19,000 crore, cumulative turnover of over Rs 3 lakh crore will be achieved under this scheme and, will create additional employment opportunities for more than 7.5 lakh jobs in this sector and several lakhs more for supporting activities. The textiles industry predominantly employs women, therefore, the scheme will empower women and increase their participation informal economy.
