ASSOCHAM hails PLI scheme for textile, describes it as a catalyst for new investment, job creation

Wednesday, September 08, 2021

New Delhi, 08th September 2021:
ASSOCHAM today hailed the approval of the Rs 10,683 crore PLI Scheme by the Union Cabinet for different segments of the textile industry, including the new age technical textile that has a wide range of applications in strategic and critical sectors of the economy.
 
"The Production Linked Incentive Scheme would be a booster push for the textile industry, not only for committing new investment in the sector but also scaling up the existing capabilities for enhanced output, rightly estimated by the government, at Rs 3 lakh crore over the next five years," ASSOCHAM Secretary General, Mr Deepak Sood said.
 
He said that with a focus on Make in India and Aatmanirbhar Bharat, the PLI scheme is playing a catalyst role in realising the objectives set out in the flagship programmes for making India a global hub for manufacturing across different segments of the industry. Amongst these, the textiles sector is of paramount importance for creating employment and value addition to the overall economy. 
 
Mr Sood said that given the Government's focus on strengthening the domestic ecosystem, to manufacture for India and the world, the PLI Scheme has proved a big hit amongst the industry, including global majors in sectors like textiles, electronics, telecom and pharmaceuticals. "Decisive results of the scheme would be evident in the short to the medium term", he said.
 
 
About ASSOCHAM:
ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It was established by promoter Chambers, representing all regions of India. Having in its fold over 400 Chambers and Trade Associations and serving over 4.5 lakh members across India. ASSOCHAM has emerged as the fountainhead of Knowledge for Indian industry, which is all set to redefine the dynamics of growth and development in the Knowledge Based Economy. More information available on www.assocham.org
 
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