PLI Scheme for Textile Sector : The government on Wednesday approved a Production-Linked-Incentive Scheme (PLI Scheme) of Rs 10,683 crore for the textile sector. The government claims that this scheme will boost textile manufacturing and exports in the country. Earlier, the PLI scheme for the electronics sector has been approved. The government wants to speed up domestic manufacturing with the help of these schemes so that employment can be increased after Corona in the country.
Claims to have created 7.5 lakh jobs
The government says that this PLI scheme for textile companies will directly generate 7.5 lakh jobs in this sector. Apart from this, several lakh jobs will also be created in allied activities. Under the PLI scheme, incentives will be paid to companies for five years.
The PLI scheme for the textile sector was approved in the cabinet meeting chaired by Prime Minister Narendra Modi on Wednesday. Under this, the manufacture of ten segments or products of Main Made Fiber (MMF), Main Made Apparel, Main Made Fabric, Garment and Technical Textile will be covered. There will be an investment of Rs. Through this, the total turnover of this sector can increase to Rs 3 lakh crore.
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Rs 37.5 lakh crore will be spent on PLI in 13 sectors
The government had announced the PLI scheme in 13 sectors in the budget. This scheme for the textile sector is part of this scheme. Under the PLI scheme, the government has to spend Rs 1.97 lakh crore for 2021-22. Within five years, Rs 37.5 lakh crore will be spent for 13 sectors under this scheme. Under the scheme, Tier-3 and Tier-4 cities will be encouraged to set up plants to increase manufacturing capacity. Generally, a large number of women have got employment in the textile sector. Due to the PLI scheme, employment of women will be encouraged and they will be able to connect with the formal sector of the economy. States like Gujarat, Maharashtra, Uttar Pradesh, Tamil Nadu, Punjab, Odisha will get a lot of help from the scheme.