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Govt Approves 17 New Applicants Under PLI Textiles Scheme
(MENAFN- KNN India)
New Delhi, Nov 19 (KNN) The Textiles Ministry has approved 17 new applicants in the third round of selections under the Production Linked Incentive (PLI) Scheme for Textiles, giving a fresh push to investment and domestic manufacturing in the Man-Made Fibre (MMF) and Technical Textiles sectors.
The new applicants have collectively committed investments worth Rs 2,374 crore.
Their proposed projects are expected to generate projected sales of over Rs 12,893 crore and create employment for approximately 22,646 people in the coming years.
Launched on September 24, 2021, with an outlay of Rs 10,683 crore, the PLI Scheme for Textiles aims to strengthen India's manufacturing ecosystem for MMF apparel, MMF fabrics, and Technical Textile products.
It seeks to help the sector scale up, enhance global competitiveness, and generate large-scale employment. With the addition of the latest approvals, a total of 74 applicants have now been selected across the first three rounds.
To encourage wider industry participation, the Ministry has recently introduced key amendments to the Scheme.
The online portal has also been reopened for new applications, which will be accepted until December 31, 2025.
(KNN Bureau)
The new applicants have collectively committed investments worth Rs 2,374 crore.
Their proposed projects are expected to generate projected sales of over Rs 12,893 crore and create employment for approximately 22,646 people in the coming years.
Launched on September 24, 2021, with an outlay of Rs 10,683 crore, the PLI Scheme for Textiles aims to strengthen India's manufacturing ecosystem for MMF apparel, MMF fabrics, and Technical Textile products.
It seeks to help the sector scale up, enhance global competitiveness, and generate large-scale employment. With the addition of the latest approvals, a total of 74 applicants have now been selected across the first three rounds.
To encourage wider industry participation, the Ministry has recently introduced key amendments to the Scheme.
The online portal has also been reopened for new applications, which will be accepted until December 31, 2025.
(KNN Bureau)
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