The cabinet today(8th September 2021) approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for the textiles sector with an aim to boost domestic manufacturing and exports. The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi here.
The PLI scheme is for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles with a budgetary outlay of Rs 10,683 crore. This scheme is part of the overall announcement of the scheme for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs 1.97 lakh crore.
Incentives worth Rs 10,683 crore will be provided over 5 years, said Union Minister Anurag Thakur. The government expects investments of more than Rs 19,000 crore into the sector during the five-year period.
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