INSUBCONTINENT EXCLUSIVE:
PLI scheme for fabrics sector: The payout will be spread out for five yearsThe government approved the production-linked reward (PLI) scheme
worth Rs 10,683 crore for the fabrics sector on Wednesday, September 8, to increase domestic production and exports
The scheme will help in developing direct extra work of more than 7.5 lakh people and a number of lakhs more for supporting activities
The payment will be topped a duration of 5 years, as part of the rewards approved for the textiles sector
The decision was taken by the Cabinet chaired by Prime Minister Narendra Modi
The PLI plan is approved for fabrics, MMF (man-made fiber) apparel, MMF materials, and 10 sectors or items of technical textiles
The plan will lead to the production of high-value MMF fabric, garments, and technical fabrics in the country.The government approximates
that over 5 years, the PLI Plan for textiles will result in a fresh investment of more than Rs.19,000 crore, together with a cumulative
turnover of over Rs.3 lakh crore.The production-linked reward scheme for fabrics is part of the overall announcement of the scheme for 13
sectors made earlier during Spending plan 2021-22, with an expense of Rs 1.97 lakh crore
With the PLI plans for these 13 sectors, the minimum production in the country is expected to be around Rs
37.5 lakh crore over a period of five years.The scheme will prioritise financial investment in aspirational districts, tier 3, tier 4 towns,
Primarily, the textiles market employs ladies, so the PLI plan will encourage females and increase their participation in the official
It will impact specially states such as Gujarat, Maharashtra, Uttar Pradesh, Tamilnadu, Punjab, Odisha, amongst couple of others, according
