The government is likely to offer production-linked incentives (PLI) for the manufacturing of garments, home textiles, and textile accessories in the second edition of the scheme. This will provide a boost to the textile industry and create more jobs in the sector.
The Ministry of Textiles is considering three investment thresholds of ₹15 crore, ₹30 crore and ₹45 crores, with double turnover as the criteria for incentives that would range between 8% and 10% under the ₹4,200 crore scheme. It is also likely to add a minimum number of stitching and sewing machines as another benchmark to avail the sops. This move would incentivize companies to invest in more stitching and sewing machines, which would create more jobs in the textile industry.
Comments