Union Ministers Anurag Thakur and Piyush Goyal while addressing the cabinet briefing on Wednesday, announced that the cabinet has approved the proposal for production-linked incentive (PLI) scheme for specific segments in the textiles sector. The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi.
Narendra Modi Cabinet Decisions Today Highlights
.The cabinet has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles with a budgetary outlay of ₹10,683 crore that will be provided over 5 years.
.“We hope that this decision will produce some global champions. The factories based around aspirational districts or Tier-3 and Tier-4 cities will be given priority. It will especially benefit Gujarat, UP, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana etc,” said Union Minister Piyush Goyal.
.Investment of above Rs 19,000 crore in five years.
.Additional production turnover of more than Rs 3 lakh crore in five years.
.Additional employment of over 7.5 lakh people directly and several lakhs more for supporting activities.
.Any person, (which includes firm / company) willing to invest minimum Rs 300 crore in Plant, Machinery, Equipment and Civil Works (excluding land and administrative building cost) to produce products of Notified lines (MMF Fabrics, Garment) and products of Technical Textiles, will be eligible to apply for participation in first part of the scheme.
.Any person, (which includes firm / company) willing to invest minimum Rs 100 crore will be eligible to apply for participation in this part of the scheme.
.In addition, priority will be given for investment in Aspirational Districts, Tier 3, Tier 4 towns, and rural areas and due to this priority Industry will be incentivized to move to backward area.
.This scheme will positively impact especially states like Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana, Odisha etc.
.PLI scheme will help India companies to emerge as Global champions, said the Central government adding that this will also pave the way for participation of women in large numbers.
.“So far, we have primarily focused on cotton textile. But 2/3 share of the international textile market is of man-made & technical textile. This PLI scheme has been approved so that India can also contribute to the production of man-made fibers,” Goyal said.