PLI scheme will boost textile exports : Chairman, TEXPROCIL

PLI scheme will boost textile exports : Chairman, TEXPROCIL

On Wednesday the Union Cabinet, led by the Honorable Prime Minister, Shri Narendra Modi, approved Production Linked Incentive Scheme (PLI) for the manufacturing of fibres and 10 technological textile categories with a five-year financial expenditure up to Rs. 10,683 crore. "The PLI plan, which is a big Government initiative, would improve exports of textiles & clothing overall and will also provide a boost to domestic manufacture," said Shri Manoj Patodia, President of the Cotton Textiles Export Promotion Council (TEXPROCIL).

The scheme incentives are based on the compliance with the minimum requirements for investment and turnover. The scheme's broad aims are to enable Indian textile companies restore their supremacy in the world's textile trade and become world champions.

According to Chairman TEXPROCIL, the PLI programme would promote the formation of new domestic textile companies or expand current manufacturing firms, which in turn will create extra jobs for women in particular.

Priority for investments in municipalities of the Tier 3, the Tier 4 and rural areas would be provided under this scheme. The President of TEXPROCIL said that PLI will create a strong ecosystem for the growth of the textile sector throughout the country in countries like UP, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana, Odisha etc.

Only manufacturing firms registered in India are under the PLI system. Shri Patodia noted that, as our Honorable Prime Minister Shri Narendra Modi had stated, the scheme would minimise import dependence and would make the textiles sectors AtmaNirbhar.

The President of TEXPROCIL expressed his thanks to Shri Piyush Goyal, Secretary of State for the Honorable Union of Industry, Trade and Commerce, Food and Public Distribution & Textiles and the Secretary of State for the textiles Smt. Darshana Jardosh and the Secretary of State for having approved the PLI Scheme of textiles for the cabinet.