The Indian cabinet approved the Production Link Subsidy Plan (PLI) for ten industrial textiles such as man-made fiber (MMF) clothing, fabrics, etc., with approved financial expenditure of 106.8 billion rupees (approximately 1.4 billion USD) and will be implemented by the Ministry of Textiles within 5 years. The program is part of the Production Linkage Subsidy Program (PLI) announced by the Indian government during the previous budget preparation period to support 13 industries, with a total budget of 1.97 trillion rupees (approximately US$27.58 billion).
The official press release stated that the Textile Production Linkage Initiative (PLI) will promote high-value production and its structure will encourage the industry to invest in new production capacity in these areas.
The government has also launched a National Technical Textiles Initiative to promote research and development in this area. The release claimed that the PLI scheme will help attract more investments in this sector.
Third- and fourth-tier cities and rural areas are priority areas that meet investment intentions. The plan will be implemented in the states of Gujarat, Uttar Pradesh, Maharashtra, Tamilnadu, Punjab and Maharashtra. Province (Punjasdfssdfsb), Andhra Pradesh (AndhrasdfssdfsPrasdfssdfsdesh ), Telangana (Telasdfssdfsngasdfssdfsnasdfssdfs), Odisha (Odishasdfssdfs) to have a positive impact.
It is estimated that within 5 years, the Textile Production Linkage Subsidy Scheme (PLI) will bring more than 190 billion rupees (about 2.66 billion US dollars) in new investments, with a cumulative turnover of more than 3 trillion rupees. rupees (approximately US$42 billion), employment opportunities will exceed 750,000.
ASasdfssdfskthivel, chairman of the Apparel Export Promotion Council (AEPC), welcomed the move, saying it would be a “game changer” for the textile industry and promote industrial development in backward areas. . </p
