1 min read.Updated: 08 Sep 2021, 10:57 AM ISTLivemint
The government had announced an outlay of Rs1.97 trillion for PLI schemes for 13 key sectors earlier this year to create national manufacturing champions and to generate job opportunities
NEW DELHI: The Union cabinet will likely to consider a production linked incentive (PLI) scheme for specific segments in the textiles sector on Wednesday, a person familiar with the development said.
The scheme, part of 13 identified sectors some of which have already been approved by the Union cabinet, is expected to boost manufacturing activities, add jobs and help scale up exports. Achieving self-reliance is a key goal of the Narendra Modi administration. The PLI scheme for the textile sector with focus on man-made fibre and technical textiles is expected to be around Rs10,000 crore.
The textile ministry is expected to come out with details of the scheme once the Cabinet gives its accord.
The government had announced an outlay of Rs1.97 trillion for PLI schemes for 13 key sectors earlier this year to create national manufacturing champions and to generate job opportunities. As per official estimates, minimum production in India as a result of PLI schemes is expected to be over $500 billion in five years.
The idea is to improve competitiveness of domestic manufacturing activities and to create global champions. The scheme offers incentives on incremental sales from items produced in India, over the base year. It is specifically designed to boost domestic manufacturing in sunrise and strategic sectors, curb cheaper imports and reduce import bills. India had witnessed disruption in supply of key raw materials from China in the recent past as global supply chains got affected during the pandemic.