Recently, Union Cabinet approved a PLI Scheme of worth ₹ 10,683 crore for Textile sector.
What is PLI (Production Linked Incentive)?
Production Linked Incentive or PLI scheme is a scheme that aims to give companies incentives on incremental sales from products manufactured in domestic units. The scheme invites foreign companies to set up units in India, however, it also aims to encourage local companies to set up or expand existing manufacturing units and also to generate more employment and cut down the country’s reliance on imports from other countries.
Key sectors included in PLI (Production Linked Incentive) :
(i) Automobiles and Auto Components,
(ii) Pharmaceuticals Drugs,
(iii) Specialty Steel,
(iv) Telecom & Networking Products,
(v) Electronic/Technology Products,
(vi) White Goods (ACs and LEDs),
(vii) Food Products,
(viii) Textile Products: MMF segment and technical textiles,
(ix) High efficiency solar PV modules, and
(x) Advanced Chemistry Cell (ACC) Battery.
Who implement PLI Scheme?
The scheme for respective sectors has to be implemented by the concerned ministries and departments.
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