PLI scheme is a stitch in time for India's textile industry
The PLI scheme seeks to restore India's eminent market position in the global textile exporter rankings. The onus is now on companies to rise to the occasion
September 13, 2021 / 11:44 AM IST
It's a timely intervention to give India's textile industry another shot at making it big. Whether it succeeds now depends on the industry taking full advantage of it. The union cabinet has cleared a Rs 10,683 crore production-linked incentive scheme (PLI) for textiles. The scheme, to be in force for five years, is designed to boost India’s production and trade of man-made fibres (MMF), garments and technical textiles.
Without doubt, the industry desperately needs a shot in the arm as India’s textile and apparel exports have been...