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(21/08/2024 09:40)

Government Pledges Support to PLI Scheme in Textiles

Union Minister Giriraj Singh on Tuesday assured the government's support to beneficiaries of the production-linked incentive scheme for man-made fibre apparel, fabrics, and technical textiles.

During an interaction with the textiles minister, participants showcased their ongoing commitment, successes, and challenges with the scheme.

Singh emphasized the government's commitment to supporting growth and innovation within the textile sector.

Future strategies and possible enhancements to further strengthen the scheme's effectiveness were discussed during the interaction. "The feedback and ideas shared during this session are invaluable. Our continued success in the textile sector relies on collaborative efforts and open communication. I am encouraged by the dedication of PLI scheme participants and their commitment to advancing our industry," said the minister.

He also urged participants to expedite grounding their investment, Giriraj said. The government sanctioned the PLI scheme for textiles with a budget of Rs 10,683 crore over a five-year period to boost production of man-made fibre apparel, fabrics, and technical textiles in the country.

Financial Year 2022-23 and 2023-24 were gestation periods under the PLI scheme. The performance years will start from 2024-25 and continue until 2028-29.