India’s textile sector is expected to attract ₹95,000 crore investments in the next four to six years on account of the production-linked incentive (PLI) scheme and the proposed seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) parks and generate over 2.25 million additional jobs, a senior official said.
“While the seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) parks are expected to attract ₹70,000 crore in four to six years with 20 lakh direct and indirect employments, the PLI scheme is likely to attract investments worth ₹25,000 crore with 2.5 lakh additional jobs,” textiles secretary Rachna Shah said on 1 March 2024.
Shah said 64 PLI proposals have been already approved and 12 more applications are under evaluation. The performance of units will be evaluated soon after the gestation period is over on March 31, 2024, she added.
According to the scheme, the government will start giving incentives from 2025-26. “In case of fast-paced investment when threshold investment and threshold turnover is achieved by 2023-24, the incentive may be payable in 2024-25 itself,” the scheme document said.
