The Selection Committee chaired by Secretary, Ministry of Textiles, U P Singh has selected 61 applicants under Production Linked Incentive (PLI) Scheme for Textiles.
A total of 67 applications were received for the PLI scheme out of which 15 applications are under Part-1 and 52 applications are under Part-2.
Addressing the media in a press conference, the minister said that in the 61 applications approved the proposed total investment expected from the applicants is Rs 19,077 crore and a projected turnover is Rs 184,917 crore over a period of 5 years with a proposed direct employment of 240,134.
The scheme has two parts, in part 1, the minimum investment is Rs 300 crore and minimum turnover required to be achieved for the incentive is Rs 600 crore; and part-2, where the minimum investment is of Rs 100 crore and minimum turnover required to be achieved for incentive is Rs 200 crore.
Government-approved Production-Linked Incentive (PLI) Scheme for Textiles products, namely MMF Apparel, MMF Fabrics and Products of Technical Textiles, for enhancing India’s manufacturing capabilities and enhancing exports with an approved financial outlay of Rs 10,683 crore over a five-year period. To further boost the growth of the sector, the Centre also removed the import duty on cotton.