According to the Ministry of Textiles, investments totaling around Rs 1,536 crore have already been made in the textile industry through the Production-Linked Incentive.
The Government developed Production Linked Incentive (PLI) schemes in a variety of industries as part of its Atmanirbhar plan to make Indian manufacturing competitive internationally, draw investments, boost exports, integrate India into the global supply chain, and lessen reliance on imports.
With an agreed financial outlay of Rs. 10,683 crore, the government has started the initiative for the textile industry in order for textiles to grow in size and scale and become competitive.
Between January 1 and February 28, 2022, applications for the PLI scheme for textiles were accepted through the portal.
A selection committee led by Secretary (Textiles) has chosen 64 candidates out of a total of 67 applications.
According to the ministry’s year-end review of the Department, 56 of the applicants have satisfied the prerequisites for the creation of a new company and have received clearance letters.
Also approved by the government was the creation of 7 (seven) PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks, which will invest Rs 4,445 crore in world-class infrastructure between now and 2027–28.
“The guidelines in respect of the scheme have been published and there have been multiple interactions with State Governments for inviting proposals. In response 18 proposals from 13 States have been received,” the ministry said in the year-ender review.
