Centre gives big relief to people, approved this big scheme
Centre gives big relief to people, approved this big scheme
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New Delhi: The Cabinet has approved the PLI scheme for the textile sector. The scheme is for man-made fibre segment and technical textiles. 7,000 crores have been allocated for manmade fibre apparel and about Rs.4,000 crores have been allocated for technical textiles. Union Minister Anurag Thakur informed about the cabinet's decisions and said that the decision will create job opportunities for 7 lakh people.

At the same time, exports will also pick up. Man-made fibre, the MMF, contributes only 20 per cent of India's textile exports. Based on the increase in production of textile companies year after year, the Government will give incentives to them. Coming to India's textile business, cotton currently contributes 80 per cent and MMF contributes only 20 per cent. Other countries in the world are far ahead of us in this regard. In such a situation, this segment and sector need to be promoted. PLI plan will be a strong step.

What is PLI Scheme:-
The Central Government has launched a PLI scheme to promote manufacturing in the country. Through this, companies are given special concessions as well as financial assistance for setting up and exporting their units in India. Global investors are being attracted with the help of the PLI scheme. This is creating employment opportunities.

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