- PLI to give a big boost to exports, investments, domestic capacity and jobs
DELHI NCR, 11 Nov 2020: Apparel Export Promotion Council (AEPC) Chairman Dr A Sakthivel welcomed Hon’ble Prime Minister Shri Narendra Modi’s decision to offer production linked incentives to several sectors saying the scheme will give a big boost to exports, investments, domestic capacity and employment.
“I am extremely thankful to Hon’ble Prime Minister Shri Narendra Modi, Hon’ble Finance Minister Smt Nirmala Sitharaman, Hon’ble Commerce Minister Shri Piyush Goyal and Hon’ble Textile Minister Smt Smriti Zubin Irani for approving Production Linked Incentive (PLI) scheme as it will increase investment in the economy, boost exports and create additional employment. This is a much needed step as it will further fuel the V-shaped recovery that has begun in many sectors including the apparel sector.
“The fiscal stimulus of Rs 10,683 crore to the textile sector particularly the manmade fibre (MMF) segment and technical textiles will go a long way in encouraging apparel exporters to foray into MMF garments for which there is a huge demand globally but exports from India is currently low. The impact of this stimulus in generating job opportunities will be maximum in the labour intensive apparel sector,” Dr Sakthivel said.
The Chairman shared his reaction after Hon’ble Finance Minister Smt Nirmala Sitharaman announced approval of the Union Cabinet for the PLI scheme worth Rs 1.46 lakh crore for 10 key sectors to boost India’s manufacturing capabilities and enhance exports.
