The Textile Ministry has finalised the Production Linked Incentive (PLI) scheme for textile products and the proposal is likely to be sent to the Union Cabinet soon for its approval, a government source has said.
The scheme, with a corpus of ₹10,683 crore, is expected to provide a push to manufacturing in the MMF (man made fibre) segment and technical textiles.
“The PLI scheme for textile products has received internal clearance and is likely to be sent to the Cabinet soon for approval. Hopefully, the industry can benefit from it soon,” the source said.
Textiles is one of the 13 sectors eligible for the PLI scheme devised to enhance India’s manufacturing capabilities and exports. Incentives will be provided to the industry for incremental production over a period of five years. The scheme has a total outlay of nearly ₹2 lakh crore.
The Textile Ministry took a longer time than initially expected to finalise the scheme as it was looking at some changes in the list of items that would be eligible for the benefit in order to ensure that domestic value addition gets a push.