Government soon to introduce PLI scheme for apparel manufacturers

In order to boost a number of industries, including synthetic fibre, technical textiles, white goods, medical devices, automobiles, and car components, the government introduced the PLI scheme with a financial outlay of Rs 1.97 lakh crore.

The government will shortly propose a production-linked incentive (PLI) programme for garment producers, according to Union Minister Piyush Goyal on Saturday.

“We are keen to support the apparel manufacturing sector and we are considering coming out with another PLI scheme,” Goyal said while speaking at an industry event in Coimbatore, Tamil Nadu. He further added that the textiles ministry, Department for Promotion of Industry and Internal Trade and Niti Aayog are currently engaged in talks over the matter.

In order to develop a number of industries, including synthetic fibre, technical textiles, white goods, medical devices, automobiles, and car components, the government introduced the PLI scheme with a financial outlay of Rs 1.97 lakh crore.

Goyal also stated that the government is encouraging the cotton and man-made textile industries in order to capture a larger share of the global market, which will ultimately lead to more investment and job possibilities.

“In all sectors, we want to become a global industry. We want to capture the world market” he said.

The Minister added that the Indian GDP, which is currently at $3 trillion, will “very soon” surpass the $30 trillion mark. Including trade obstacles, taxation concerns, issues with global competitiveness, and other structural issues, the administration has been aggressively tackling them, he continued.

Source: Times Now