September 8, 2021 8:33 PM

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Govt approves Production Linked Incentive Scheme for Textiles

Union Cabinet today approved the Production Linked Incentive Scheme for Textiles. Under it, the incentives worth  10,683 crore rupees will be provided over five years. Briefing reporters in New Delhi, Textiles Minister, Piyush Goyal said, this will  positively impact states like Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana and Odisha. He said, the decision will help in creating additional employment of over 7.5 lakh people directly and several lakhs more for supporting activities. <br />'' <br />'' The scheme will promote production of high value Man Made  Fabric, Garments and Technical Textiles in the country. The incentive structure has been so formulated that industry will be encouraged to invest in fresh capacities in these segments. This will give a major push to growing high value Man Made  Fiibre  segment which will complement the efforts of cotton and other natural fibre-based textiles industry in generating new opportunities for employment and trade.<br />''   <br />'' It is expected that the scheme will result in fresh investment of above  19 thousand  crore  rupees and additional production turnover of over three  lakh crore rupees in five years.

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