The Ministry of Textiles approved 22 new applicants under Round-3 of the Production Linked Incentive (PLI) Scheme for Textiles, with a projected investment of ₹2,339.14 crore, turnover of ₹15,561.34 crore, and 36,217 jobs to be created. In total, 96 companies have been selected under Round-3 with a committed investment of ₹12,822.67 crore and a projected turnover of ₹58,294.18 crore. The approved applicants cover man-made fibre (MMF) apparel, MMF fabrics, and technical textiles. India's textile and apparel industry is the country's second-largest employer after agriculture.
Economy
Govt Approves 96 Companies Under Textile PLI Round-3; ₹12,822 Crore Investment Expected
Key Points
- The Ministry of Textiles approved 22 new applicants under Round-3 of the Production Linked Incentive (PLI) Scheme for Textiles, with a projected investment of ₹2,339.14 crore, turnover of ₹15,561.34 crore, and 36,217 jobs to be created
- In total, 96 companies have been selected under Round-3 with a committed investment of ₹12,822.67 crore and a projected turnover of ₹58,294.18 crore
- The approved applicants cover man-made fibre (MMF) apparel, MMF fabrics, and technical textiles
- India's textile and apparel industry is the country's second-largest employer after agriculture
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• PLI for Textiles launched: 2021; covers MMF apparel, MMF fabrics, and technical textiles • Round-3 total: 96 companies; committed investment ₹12,822.67 crore; projected turnover ₹58,294.18 crore • Textile sector = 2nd largest employer in India after agriculture
