With this, a total of 96 companies have now got selected under the third round of the PLI Scheme for Textiles.
Image: IANS
Prime Minister Narendra Modi-led central government on Wednesday, June 10, approved 22 new applicants under the third round of the Production Linked Incentive (PLI) Scheme for Textiles. This has paved the way for investments worth ₹2,339.14 crore and will create over 36,000 jobs across the textile value chain.
As per the official data, the projects have been projected to generate a turnover of ₹15,561.34 crore from notified textile products, besides creating 36,217 employment opportunities across the textile value chain, IANS reported.
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With this, a total of 96 companies have now got selected under the third round of the PLI Scheme for Textiles. Altogether, they have committed investments worth ₹12,822.67 crore to generate an expected turnover of ₹58,294.18 crore.
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The approved companies operate in key focus areas of the scheme, such as Man-Made Fibre (MMF) Apparel, MMF Fabrics and Technical Textiles. The central government is hopeful that the expansion of these segments will further strengthen the country’s position as a global manufacturing hub for value-added textile products.
Notably, the PLI scheme aims to encourage domestic manufacturing and enhance competitiveness, besides attracting large-scale investments into the industry, read a statement.
The latest approvals reflect continued industry interest in the Centre’s efforts towards promoting investment in emerging segments of the textile sector.
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