Home / Business and Economy / Textile PLI Boosts India: 17 Firms Get Rs 2,374 Cr
Textile PLI Boosts India: 17 Firms Get Rs 2,374 Cr
18 Nov
Summary
- 17 new textile firms approved for PLI scheme.
- Total investment committed reaches Rs 2,374 crore.
- Over 22,646 jobs expected from new applicants.
The Ministry of Textiles has greenlit 17 new applicants under the Production Linked Incentive (PLI) Scheme for textiles. This approval commits Rs 2,374 crore in investment, poised to enhance India's manufacturing prowess in MMF Apparel, MMF Fabrics, and Technical Textiles. The newly selected firms are expected to drive significant economic growth.
These approved ventures anticipate generating over Rs 12,893 crore in sales and are projected to create around 22,646 employment opportunities in the coming years. The PLI scheme, initially notified in September 2021 with an outlay of Rs 10,683 crore, aims to foster global competitiveness and substantial job creation.
With 74 applicants approved across the first two selection rounds, the scheme has been further amended to encourage wider industry participation. The application portal remains open until December 31, 2025, offering continued opportunities for businesses to benefit from this strategic initiative.
