The Ministry of Textiles (MoT) has said that investment to the tune of Rs. 1536 crore approximately has been made so far under Production Linked Initiative (PLI) Scheme.
In a statement, highlighting the 2022 development of the MoT, it said that from receiving proposals under PM Mitra to investment under PLI Scheme, it was an eventful year for MoT.
The Government has launched PLI Scheme with an approved outlay of Rs.10,683 crore to promote the production of MMF apparel, MMF fabrics and products of technical textiles in the country to enable the textiles industry to achieve size and scale and to become competitive. A total of 67 applications have been received and the selection committee chaired by Secretary (Textiles) has selected 64 applicants under the scheme.
56 applicants have completed the mandatory criteria for formation of a new company and approval letters have been issued to them. Quality Control Order wrt VSF is under issuance.
Also Read: These 61 companies get approval under PLI scheme for textiles!
The statement also informed that 74 research proposals valuing Rs.232 crore have been approved under National Technical Textile Mission (NTTM) for speciality fibre and technical textiles.
Rs. 621.41 crore subsidy has been released in 3159 cases under Amended Technology Upgradation Fund Scheme (ATUFS) and Special campaigns.
The key initiatives and achievements of the Ministry in the year 2022 include developments regarding PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks. National Technical Textile Mission (NTTM) has also remained in the focus.
Investment of Rs.10,218 crore has been confirmed by the industry in 2443 subsidy cases. A total of Rs. 621.41 crore subsidy was released in 3159 cases under Amended Technology Upgradation Fund Scheme (ATUFS) and special campaigns have been organised at major clusters for settling backlog cases.
