Ministry of Textile: Gets many applications for PLI in Man-Made Fibres, Techtex

14 March 2022, Mumbai:

The textile ministry has received applications from as many as 67 companies to avail benefits of the production linked incentive (PLI) scheme for man-made fibres and technical textile sectors, a top government official said on Saturday.

The PLI scheme for textiles covers 40 man-made fibre (MMF) garment items, 14 MMF fabric goods and 10 technical textile products.

The government had approved the PLI scheme worth ₹10,683 crore for the sector with an aim to boost domestic manufacturing, create jobs and promote exports.

ALSO READ: The deadline for applying for the PLI scheme has been extended once more

“We have taken a number of steps to promote growth of the technical textile sector. There has been a very good response for the PLI scheme.

“As many as 67 companies have made applications for being a part of the PLI for MMF and technical textiles and against our expectations of over ₹19,000 crore investments, these companies have shown that they would be investing like ₹22,000-23,000 crore in the MMF and technical textiles,” Textiles Secretary U.B. Singh said at a CII event.

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CREDITS: DBP News.