Indian Economy News

Production linked incentive scheme for textiles attracts US$ 185 million (Rs 1,536 crores) in investments: Government

  • IBEF
  • December 27, 2022

The Production Linked Incentive (PLI) scheme for India’s textiles sector, which is worth US$ 1.2 billion (Rs. 10,684 crores), attracted investments of US$ 185 million (Rs. 1,536 crores). 56 approval letters were issued to applicants who met the eligibility criteria and informed the government.

The PLI scheme for textiles was launched to promote the production of man-made fibres (MMF) apparel, MMF fabrics and products of technical textiles in the country and to enable the textile sector of India to achieve size and scale.

In total, 64 applicants were selected under the scheme and 56 out of them, met the eligibility criteria. The Ministry of Textiles states that domestic cotton cultivation has also increased by 5% to 125.02 lakh hectares and a brand named ‘Kasturi Cotton India’ has been launched to encourage the harvesting of cotton.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.