Centre looking at PLI 2.0 for textiles to make it globally competitive, says Union minister Piyush Goyal
The review meeting under the chairmanship of the minister was attended by representative of 49 companies and key dignitaries of the textile ministry.
The government is considering the second phase of the Production Linked Incentive scheme for the textile sector to help the industry compete with top exporting countries like China and Vietnam, Union minister Piyush Goyal said on Tuesday.
The minister for textiles and commerce and industry instructed officials of the ministry to undertake extensive and exhaustive stakeholder consultations before finalising the contours of PLI 2.0. He asked them to make PLI 2.0 robust and emphasised that PLI 2.0 would empower the sector to compete globally with top exporting countries like China, Vietnam, an official statement said.
Chairing a review meeting of PLI for textiles, Goyal interacted with beneficiaries and asked the textile industry to strive to move up the value chain and focus on products of high value. Textile industry has immense potential to accelerate job creation, exports and growth, he said.
Goyal emphasised that the textile sector's USP (unique selling point) should not be restricted to cheap labour; workers should be paid well and given social security. Goyal acknowledged the textile sector's inherent capability to create employment and drive both growth and exports and said that textiles was one of the sectors identified by Prime Minister Narendra Modi as an industry with immense potential.
"The minister said that the centre was looking at PLI 2.0 and instructed officials of the ministry to undertake extensive and exhaustive stakeholder consultations before finalising the contours of PLI 2.0," the textile ministry stated.
The review meeting under the chairmanship of the minister was attended by representative of 49 companies and key dignitaries of the textile ministry. Under the PLI Textile Part 1, 67 applicants had applied, out of which 64 were selected. Out of these 64 companies, 55 have formed participant companies.
The proposed investment during the entire tenure of the scheme is Rs 19,789 crore, out of which Rs 1,536 crore has been invested so far, the statement said. The review meeting was held to understand the implementation status of the projects under the scheme and for resolving their issues.
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