Business
PLI Scheme For Textiles Attracts Rs 1,536 Crore In Investments So Far: Govt
A textile factory.
The Rs 10,683 crore Production Linked Incentive (PLI) scheme for textiles sector has attracted investments to the tune of Rs 1,531 crore so far, the government said on Monday (26 December).
Applications under the PLI Scheme for textiles were received through web portal from 1 January to 28 February and a total of 67 applications were received.
The PLI scheme was launched by the Centre with an approved outlay of Rs.10,683 crore to promote production of MMF Apparel, MMF Fabrics and Products of Technical Textiles in the country to enable textiles Industry to achieve size and scale and to become competitive.
"Selection Committee chaired by Secretary (Textiles) has selected 64 applicants under the scheme. 56 applicants have completed the mandatory criteria for formation of a new company and approval letters have been issued to them. Investment to the tune of Rs. 1536 crore approximately has been made so far," the Textiles Ministry said in a statement.
Further, to develop world class infrastructure including plug and play facility, the government had approved setting up of seven PM Mega Integrated Textile Region and Apparel (PM MITRA) parks with an outlay of Rs 4445 crore for a period up to 2027-28, the ministry said.
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