Cabinet may approve PLI scheme for MMF, technical textiles today
Cabinet may approve PLI scheme for MMF, technical textiles today
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The Union Cabinet is likely to approve a production linked incentive (PLI) scheme today (September 8) for man-made fibre segment and technical textiles with a financial outlay of Rs 10,683 crore over five years to boost domestic manufacturing and exports from the sector, an official said.

The proposal is expected to come up before the Union Cabinet meeting on Wednesday, the official added. The Cabinet had earlier approved PLI schemes in 13 key sectors for enhancing India's manufacturing capabilities and exports. After the approval, the textiles ministry would come with detailed guidelines of the scheme for these sectors. The prime objective of the scheme is to make manufacturing in India globally competitive by removing sectoral disabilities, creating economies of scale and ensuring efficiencies. It is designed to create a complete component ecosystem in India and make India an integral part of the global supply chains.

The scheme is expected to attract global investments, generate large-scale employment opportunities and enhance exports substantially. It will also help Indian firms to grow into global champions.

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