{"id":132757,"date":"2021-09-09T18:56:34","date_gmt":"2021-09-09T13:26:34","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=132757"},"modified":"2021-09-10T18:19:00","modified_gmt":"2021-09-10T12:49:00","slug":"government-approves-production-linked-incentive-pli-scheme-for-textiles","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/government-approves-production-linked-incentive-pli-scheme-for-textiles\/","title":{"rendered":"Government approves Production Linked Incentive (PLI) Scheme for Textiles"},"content":{"rendered":"\n
What is the News?<\/b><\/h5>\n

The government of India has approved the <\/span>Production Linked Incentive (PLI) Scheme for Textiles.<\/span><\/p>\n\n\n\n
Must Read:<\/b> About Production-Linked Incentive(PLI) Schemes<\/b><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
About the PLI Scheme for textiles<\/b><\/h5>\n

Objective:\u00a0<\/b><\/p>\n

    \n
  1. To \u200b\u200b<\/span>attract investments in the production of in-demand textile products like man-made fibre (MMF) fabric, garments and<\/span> technical textiles.<\/span><\/a><\/li>\n
  2. To make Indian textiles more competitive in international markets.<\/span><\/li>\n<\/ol>\n

    Duration of the Scheme:<\/b> Five Years<\/span><\/p>\n

    Features of the PLI Scheme for textiles<\/b><\/h5>\n

    Incentives: <\/b>Under the scheme, two <\/span>types of investment are possible with a different set of incentive structures:<\/span><\/p>\n

      \n
    1. First Type:<\/b> Any person, (which includes firm\/company) willing to invest a minimum of \u20b9300 Crore in Plant, Machinery, Equipment and Civil Works (excluding land and administrative building cost<\/strong>) to produce products of Notified lines (MMF Fabrics, Garment) and products of Technical Textiles, shall be eligible to apply for participation.<\/span><\/li>\n
    2. Second Type: <\/b>In this, any person, (which includes firm\/company) willing to invest a minimum of \u20b9100 Crore shall be eligible to apply for participation.<\/span><\/li>\n<\/ol>\n

      Priority Areas:<\/b> Under the scheme, priority will be given for investment in Aspirational Districts, Tier 3, Tier 4 towns and rural areas. Hence, industries will be incentivized to move to backward areas.<\/span><\/p>\n

      Significance of the PLI Scheme for textiles<\/b><\/p>\n

      The scheme will lead to<\/span> a fresh investment <\/b>of more than Rs.19,000 crore and will create additional <\/span>employment opportunities <\/b>for more than 7.5 lakh jobs in this sector.<\/span><\/p>\n

      The scheme<\/span> will promote<\/span> the production of high-value MMF fabrics, Garments and Technical Textiles <\/b>in the country.<\/span><\/p>\n

      The scheme will positively impact <\/span>especially States like Gujarat, UP, Maharashtra, Tamil Nadu, Punjab, AP, Telangana and Odisha<\/b><\/p>\n

      Moreover, the textiles industry <\/span>predominantly employs women, <\/b>therefore, the scheme will <\/span>empower women and increase their participation <\/b>in the formal economy.<\/span><\/p>\n

      Source: <\/b>This post is based on the following articles:<\/span><\/p>\n