In a significant boost to India's textile sector, the government has greenlit 17 additional applicants under the Production Linked Incentive (PLI) Scheme for textiles during its third selection round. This strategic move aims to strengthen domestic manufacturing capabilities and enhance India's global competitiveness in key segments.
Massive Investment and Employment Generation
The newly approved companies have committed to substantial investments worth Rs 2,374 crore, according to the Textile Ministry. These proposed projects are expected to generate projected sales exceeding Rs 12,893 crore while creating employment opportunities for approximately 22,646 people over the coming years.
The ministry emphasized that the PLI Scheme for Textiles, which was officially notified on September 24, 2021, carries an approved outlay of Rs 10,683 crore. This financial support is specifically targeted at boosting production in priority segments including man-made fibre (MMF) apparel, MMF fabrics, and technical textiles.
Expanding Reach and Industry Response
With this latest approval, the total number of approved applicants under the scheme has reached significant numbers. The ministry revealed that 74 applicants had already been approved in the first two rounds of selections, demonstrating substantial industry interest and participation in the initiative.
The scheme's primary objective is to help the Indian textile sector scale up operations, achieve global competitiveness, and generate large-scale employment opportunities across the value chain. Recent amendments to the scheme have been introduced specifically to expand participation and make it more accessible to industry players.
Extended Application Window
In a move to encourage broader industry participation, the government has reopened the online application portal for new submissions. Potential applicants now have until December 31, 2025 to submit their proposals under the revised scheme guidelines.
The extended timeline provides ample opportunity for more textile manufacturers to benefit from the incentive program, potentially bringing additional investment and technological advancement to the sector. This strategic approach aligns with the government's broader vision of establishing India as a global manufacturing hub for textiles.
