PM Narendra Modi announced on Friday that PM MITRA mega textile parks would be established in Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, Madhya Pradesh, and Uttar Pradesh.
According to the Ministry of Textiles, investments totaling approximately Rs 1,536 crore have been made in the textile industry under the Production-Linked Incentive.
The government launched Production Linked Incentive (PLI) schemes in various sectors as part of its Atmanirbhar plan to make Indian manufacturers globally competitive, attract investments, boost exports, integrate India into the global supply chain, and reduce reliance on imports.
The government has launched a scheme for the textile industry with an approved financial outlay of Rs 10,683 crore to help textiles achieve size and scale and become competitive.
From 1 January 2022 to 28 February 2022, applications for the PLI scheme for textiles were received through the portal.
A total of 67 applications were received, and the selection committee, chaired by Secretary (Textiles), chose 64 candidates.
According to the ministry’s year-end review of the Department, 56 applicants have completed the mandatory criteria for the formation of a new company and have received approval letters.