(LiveMint)
Union Ministers Anurag Thakur and Piyush Goyal while addressing the cabinet briefing on Wednesday, announced that the cabinet has approved the proposal for production-linked incentive (PLI) scheme for specific segments in the textiles sector. The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi.
The cabinet has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles with a budgetary outlay of ₹10,683 crore that will be provided over 5 years. “So far, we have primarily focused on cotton textile. But 2/3 share of the international textile market is of man-made & technical textile. This PLI scheme has been approved so that India can also contribute to the production of man-made fibers,” Piyush Goyal said.
