PLI scheme for textiles attracts Rs 1,536 crore in investments: Govt
The Rs 10,683-crore production-linked incentive scheme for India's textiles sector attracted investments of Rs 1,536 crore as approval letters were issued to 56 applicants who met the eligibility criteria, the government said on Monday.
Applications under the PLI Scheme for textiles were received through a web portal from January 1, 2022, to February 28, 2022.
The Centre launched the PLI Scheme with an approved outlay of Rs 10,683 crore to promote the production of MMF apparel, MMF fabrics and Products of Technical Textiles in the country to enable the textiles industry to achieve size and scale and to become competitive.
"Selection Committee chaired by Secretary (Textiles) has selected 64 applicants under the scheme. 56 applicants have completed the mandatory criteria for the formation of a new company and approval letters have been issued to them. Investment to the tune of Rs 1,536 crore has been made so far," an official statement said.
The ministry said that domestic cotton ...