Union Ministry of Textiles secretary UP Singh said to boost the growth of the textile sector, the centre has removed the import duty of cotton.
He said the government has approved Production-Linked Incentive (PLI) Scheme for Textiles products, namely MMF Apparel, MMF Fabrics and Products of Technical Textiles, for enhancing India’s manufacturing capabilities and enhancing exports with an approved financial outlay of Rs 10,683 crore over a five-year period.
To further boost the growth of the sector, centre also removed the import duty of cotton, he told a press conference.
A total of 61 applicants approved under Production Linked Incentive (PLI) Scheme For Textiles out of 67 applications received, he said.
The proposed total investment expected from applicants is Rs. 19,077 crore and a projected turnover is Rs. 184,917 crore with a proposed employment of 240,134, he said.
The Government approved PLI Scheme for Textiles products for enhancing India’s manufacturing capabilities and enhancing exports with an approved financial outlay of Rs 10,683 crore over a five-year period.
The Selection Committee chaired by Secretary, Ministry of Textiles, Singh has selected 61 applicants under Production Linked Incentive (PLI) Scheme for Textiles. A total of 67 applications were received for the PLI scheme out of which 15 applications are under Part-1 and 52 applications are under Part-2.
The scheme has two parts, Part 1 where minimum investment is Rs. 300 crore and minimum turnover required to be achieved for incentive is Rs.600 crore; and Part-2, where minimum investment is of Rs. 100 crore and minimum turnover required to be achieved for incentive is Rs. 200 crore, he said.
The Notification for the scheme was issued on 24.09.2021.
The Operational Guidelines for Production Linked Incentive (PLI) Scheme were issued on 28.12.2021. Applications under PLI Scheme for Textiles were received through web portal from 01.01.2022 to 28.02.2022.
