Textile Sector PLI Scheme draws Rs 1,536 cr in investments, informs centre

Textile PLI Scheme applications were received through the portal between January 1, 2022, and February 28, 2022.

The textile sector’s production-linked incentive scheme (PLI) of Rs 10,683 crore has attracted investments of Rs 1,536 crore, the government informed after approval letters were issued to 56 applicants who met the eligibility criteria.

Textile PLI Scheme applications were received through the portal between January 1, 2022, and February 28, 2022.

With an approved outlay of 10,683 crore, the centre launched the PLI scheme to promote the production of MMF apparel, MMF fabrics, and technical textile products in the country, allowing the textiles industry to achieve size and scale and become competitive.

The scheme’s selection committee, chaired by the Secretary (Textiles), has chosen 64 applicants. 56 applicants have completed the mandatory criteria for the formation of a new company and have received approval letters. So far, a total of Rs 1,536 crore has been invested.

Domestic cotton cultivation has increased by 5 per cent to 125.02 lakh hectare, up from 119.10 lakh hectare last year, and a brand named ‘Kasturi Cotton India’ for Indian cotton has been launched to encourage mechanised harvesting, improve cotton quality, and reduce labour costs.