Indian Government has extended the deadline for inviting fresh applications under the Production-Linked Incentive (PLI) Scheme for Textiles as a strategic move to bolster India’s manmade fiber (MMF) sector, the. The revised deadline now stands at December 31, 2023, providing potential applicants with additional time to participate in this initiative aimed at promoting MMF products, including fiber, yarn, fabrics, and ready-made garments, within the broader textiles and apparel export landscape.
India holds a significant share of MMF products in its total Textiles & Apparel exports, making it a crucial player in the global textile market. The PLI Scheme for Textiles, with a specific focus on MMF Apparel, MMF Fabrics, and Technical Textiles, has garnered attention from industry players eager to harness the potential of this sunrise sector.
The scheme has already attracted 64 selected applicants, signaling a strong industry response. These applicants are anticipated to establish 84 units across 14 states and 1 Union Territory, with notable participation from states such as Odisha and Maharashtra. The inclusion of diverse regions reflects the government’s commitment to fostering widespread growth and development across the country.
The decision to extend the application deadline underscores the government’s proactive approach to encouraging investments and participation in the MMF and Technical Textiles segment. This industry segment holds immense potential, supported not only by the PLI Scheme for Textiles but also by the National Technical Textiles Mission.
The PLI Scheme for Textiles has emerged as a key driver for the expansion of the MMF sector, offering incentives to manufacturers and promoting the production of high-value textile products. By extending the application window, the government aims to attract a broader range of stakeholders, encouraging a more inclusive participation that aligns with the overarching goal of making India a global hub for textile manufacturing.
The textiles industry, a vital contributor to India’s economy, has been undergoing transformative changes with a focus on innovation, sustainability, and value addition. The PLI Scheme for Textiles plays a pivotal role in this transformation by incentivizing manufacturers to adopt modern technologies, enhance productivity, and contribute to the country’s export capabilities.
Union Minister of State for Textiles, Smt. Darshana Jardosh, highlighted the government’s commitment to fostering the growth of the textiles sector during a written reply in the Lok Sabha. She emphasized that the extension of the application deadline is a strategic move to accommodate a wider range of participants, ensuring that the benefits of the PLI Scheme reach a diverse set of stakeholders.
As India continues to position itself as a key player in the global textiles market, initiatives like the PLI Scheme for Textiles provide the necessary impetus for industry players to invest, innovate, and contribute to the country’s economic growth. The extended deadline serves as an opportunity for businesses to actively engage with the scheme, tapping into the potential of MMF and Technical Textiles and contributing to the overall advancement of the textiles sector in India.
