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PLI program for the textile industry attracts Rs 1,536 billion in investment: Government

10,683 Rs encourage production linkage plans for India document field of attraction invest out of Rs 1,536 crore when letters of approval were issued to 56 applicants who met the eligibility criteria, the government said on Monday.

Applications according to PLI Program for textiles received through an electronic portal between 1 January 2022 and 28 February 2022.

Center has launched PLI Scheme with approved funding of Rs 10,683 crore to promote MMF production skindomestic MMF fabrics and Technical Textile Products to help the textile industry achieve scale and scale and become competitive.

“The selection committee chaired by the Minister of Textiles (Textiles) selected 64 candidates under this scheme. 56 applicants completed the required criteria to form a new company and a letter of approval was issued to them. . Investment worth Rs 1,536 crore has been made to date,” an official statement said.

The ministry said the area under cotton cultivation in the country has increased by 5% to 125.02 lakh ha from 119.10 lakh ha last year and a brand name called ‘Kasturi Cotton India’ for Indian cotton has been launched to promote encourage mechanical cotton harvesting, improve cotton quality and reduce labor costs.

In addition, 74 research proposals worth Rs 232 crore have been approved under the National Technical Textile Task Force (NTTM) for specialty yarns and technical textiles, the Ministry of Textiles and Garments said in its assessment. year-end for this segment.


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