Textiles Sector Sees ₹7,343 Cr PLI-Driven Investment.

The Production Linked Incentive (PLI) scheme for textiles has proven to be a game-changer for the industry, attracting a substantial ₹7,343 crore in investment. This initiative is designed to bolster domestic manufacturing, enhance competitiveness, and integrate Indian textiles more deeply into global supply chains.

The scheme offers financial incentives for a period of five years, specifically targeting the production of Manmade Fibre (MMF) apparel, fabrics, and technical textiles. This strategic focus aims to help manufacturers achieve greater scale and efficiency, ultimately making them more competitive in international markets.

In a move to broaden the scheme's impact, the Textiles Ministry recently expanded the coverage of eligible products by notifying additional Harmonized System (HS) Codes for Technical Textiles. Furthermore, demonstrating a commitment to providing timely support, the Ministry approved amendments in February, which facilitated the early disbursement of ₹54 crore to eligible beneficiaries.

This significant investment under the PLI scheme underscores the government's push to transform India into a global manufacturing hub for textiles, creating new opportunities for growth and employment within the sector.