PLI Scheme for Textiles Draws Rs 1,536 crore in Investments

PLI Scheme for Textiles Draws Rs 1,536 crore in Investments

The Rs 10,683-crore production-linked incentive (PLI) scheme of Centre has attracted investments of Rs 1,536 crore, with approval letters issued to 56 applicants who met the eligibility criteria, an official statement said on Monday.

Applications under the PLI scheme for textiles — launched to enable the industry to achieve size and scale and become competitive — were received online from January 1, 2022, to February 28, 2022. The government launched the scheme to promote the production of MMF apparel, MMF fabrics and Products of Technical Textiles in the country.

The Ministry of Textiles said that domestic cotton cultivation has increased by 5% to 125.02 lakh hectares as against 119.10 lakh hectares during last year. A brand for Indian cotton, Kasturi Cotton India, has been launched to encourage mechanised harvesting of cotton, improving its quality of cotton and reducing labour cost.

In addition, 74 research proposals amounting to Rs. 232 crore have been approved under National Technical Textile Mission (NTTM) for speciality fibre and technical textiles, the ministry said in the year-end review. A total of Rs. 621.41 crore subsidy was released in 3,159 cases under Amended Technology Upgradation Fund Scheme and Special campaigns organised at major clusters for settling backlog cases.