PLI Scheme for Indian Textile Sector
On 8th September, 2021, government approved Production Linked Incentive (PLI) Scheme for Textiles in order to regain its dominance in Global Textiles Trade.
PLI scheme for Textiles is part of the overall announcement of PLI Schemes for 13 sectors made earlier during the Union Budget 2021-22.
Need
- Annual textile and clothing exports have remained largely stagnant over the last seven years.
- India is ranked sixth in the global trade in this sector
- In 2018-19, while Indian textile and clothing exports amounted to about $36 billion, less than one-third was man-made fibre-based. In contrast, of the total textile and clothing exports by China, it ....
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