New Delhi, 09th September 2021: ASSOCHAM hailed the approval of the Rs 10,683 crore PLI Scheme by the Union Cabinet for different segments of the textile industry, including the new age technical textile that has a wide range of applications in strategic and critical sectors of the economy.
“The Production Linked Incentive Scheme would be a booster push for the textile industry, not only for committing new investment in the sector but also scaling up the existing capabilities for enhanced output, rightly estimated by the government, at Rs 3 lakh crore over the next five years,” ASSOCHAM Secretary General, Deepak Sood said.
He said that with a focus on Make in India and Aatmanirbhar Bharat, the PLI scheme is playing a catalyst role in realising the objectives set out in the flagship programmes for making India a global hub for manufacturing across different segments of the industry. Amongst these, the textiles sector is of paramount importance for creating employment and value addition to the overall economy.
Sood said that given the Government’s focus on strengthening the domestic ecosystem, to manufacture for India and the world, the PLI Scheme has proved a big hit amongst the industry, including global majors in sectors like textiles, electronics, telecom and pharmaceuticals. “Decisive results of the scheme would be evident in the short to the medium term”, he said.
