Bookmark Bookmark

PLI SCHEME FOR TEXTILE SECTOR

PLI SCHEME FOR TEXTILE SECTOR

Context:

The Union Cabinet has approved the Production-Linked Incentive (PLI) scheme for the textiles sector worth Rs 10,683 crore. It is part of a larger PLI scheme for 13 sectors, with a total budget of 1.97 lakh crore.

What is the PLI plan?

  • The PLI textile program aims to promote the production of high-quality Man-Made Fibre (MMF) fabrics, garments and technical textiles.
  • As the name suggests, PLI is a way to reward increased productivity in a particular sector and has the benefits of economic growth and job creation.
  • The production-linked incentives for textiles production are aimed at increasing MMFsand technical textiles’ value chain.
  • The aim of the program is to help India achieve a top position in the global textile trade.

Qualified Manufacturers:

  • Any person or company wishing to invest a minimum of Rs 300 crore in a plant, machinery, equipment and civil works (excluding land and administrative building cost) to produce MMF fabrics, garments and products of technical textiles will be able to participate in the first phase of the program.
  • Investors who are willing to spend a minimum of Rs 100 crore under the same conditions will be able to apply for the second part of the scheme.

You might be interested:

One Liners of the Day, 11 September 2021

Important day Theme of 2021 Himalayan Diwas (9 September) in India - ‘Contribution of Himalayas and our responsibilities’. Theme of 2021 World Suicide Prevention Day (10 September) &ndash ...

one year ago

Daily News Digest:10 September 2021

NATIONAL INSTITUTE RANKING FRAMEWORK (NIRF) 2021The Union Education Minister Dharmendra Pradhan released the National Institute of Ranking Framework (NIRF) 2021. IIT Madras has topped the list in the ...

one year ago

INDIA-DENMARK LAUNCH ‘CENTRE OF EXCELLENCE ON OFFSHORE WIND’

INDIA-DENMARK LAUNCH ‘CENTRE OF EXCELLENCE ON OFFSHORE WIND’ Context: On September 9, 2021, India and Denmark launched the ‘Centre of Excellence on Offshore Wind’ as part of th ...

one year ago

100-DAY PLAN FOR INDIA’S CIVIL AVIATION SECTOR

100-DAY PLAN FOR INDIA’S CIVIL AVIATION SECTOR Context: On September 9, 2021, Union Minister of Civil Aviation, Jyotiraditya Scindia, announced a 100-day plan for India’s civil aviation se ...

one year ago

DRDO HANDS OVER THE FIRST DELIVERABLE FIRING UNIT (FU) MRSAM SYSTEM TO IAF

DRDO HANDS OVER THE FIRST DELIVERABLE FIRING UNIT (FU) MRSAM SYSTEM TO IAF Context: On September 9, 2021, Defence Research and Development Organisation (DRDO) handed over the first deliverable Firing ...

one year ago

INDIAN RAILWAYS ORGANIZATION OF ALTERNATE FUEL (ROAF) SHUTS DOWN

INDIAN RAILWAYS ORGANIZATION OF ALTERNATE FUEL (ROAF) SHUTS DOWN Context: With effect from September 7, 2021, the Railway Ministry has closed down the Indian Railways Organization of Alternate Fuel (I ...

one year ago

Provide your feedback on this article: