PLI SCHEME NATIONAL
NEW DELHI, INDIA
By IFAB MEDIA - NEWS BUREAU - August 21, 2024 | 96 2 minutes read
Union Minister Giriraj Singh on Tuesday reaffirmed the government's support to beneficiaries of the production-linked incentive (PLI) scheme for man-made fibre apparel, fabrics, and technical textile products.
During a session with participants from the textile industry, the minister highlighted the government's commitment to fostering growth and innovation within the sector. The interaction provided a platform for beneficiaries to share their ongoing progress, successes, feedback, and the challenges they face under the PLI scheme.
Singh emphasized the importance of collaboration and open communication, noting that the feedback and ideas presented are crucial for the continued success of the textile industry. He expressed optimism about the dedication of PLI scheme participants and their role in advancing the industry.
"We remain committed to supporting growth and innovation within the textile sector," Singh stated. "The feedback and ideas shared during this session are invaluable, and our continued success relies on collaborative efforts and open communication. I am encouraged by the dedication of PLI scheme participants and their commitment to advancing our industry."
The minister also urged participants to expedite their investments, ensuring timely implementation under the scheme. The PLI scheme for textiles, with an approved outlay of Rs 10,683 crore over five years, aims to boost the production of man-made fibre apparel, fabrics, and technical textile products in India.
The financial years 2022-23 and 2023-24 have been designated as gestation periods under the scheme, with performance years commencing from 2024-25 and continuing until 2028-29.