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pli: PLI scheme for textiles aimed at creating huge employment opportunities, says official

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The idea of Production Linked Incentive (PLI) Scheme, announced for textiles by the government, was to create huge employment opportunities and extend support to companies that were interested in scaling up business in the sector, a senior government official said here. The advantage of PLI Scheme is to invest in those projects, which are covered under the scheme for the products, and create huge employment and achieve production turnover for companies, Textiles Ministry Additional Secretary Vijoy Kumar Singh said.

“As a government we are looking at the creation of employment, opportunities for people, our citizens. So, the creation of employment opportunities is liked by both the central and state governments. So jointly, we will work towards the success of this scheme. That is our objective,” he told reporters.

Recently, the Centre approved the Production Linked Incentive Scheme for textiles that aims at making the country regain its dominance in the global textile trade.

The scheme was expected to have a positive impact on states like Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh and Telangana, a PIB release said.

According to Singh, the scheme would help create additional employment of over 7.50 lakh people directly. The government would provide incentives worth Rs 10,683 crore to the industry over a period of five years, he added.

Stating that the government would extend support and enable a company to run business on its own, he said, “The idea is to support the industry in the initial period and once they become of some size and scale themselves, they will be competitive (enough) on their own strength.”

The PLI Scheme for textiles was part of the overall announcement of PLI Schemes for 13 sectors made during the budget for FY 2021-22 with an outlay of Rs 1.97 lakh crore.

The minimum production in the country is expected to be around Rs 37.50 lakh crore and minimum employment generation to be one crore over a five-year period, the release said.

Courtesy – economictimes.indiatimes.com

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