PLI Scheme For Textiles Will Empower National Manufacturers To Become Drivers Of Growth

Industry news

PLI Scheme For Textiles Will Empower National Manufacturers To Become Drivers Of Growth

The Indian government, through timely reforms, has consistently pushed towards achieving the vision of making India truly Aatmanirbhar. This new announcement of incentives under the PLI scheme is oriented towards realising this vision by bolstering the country’s domestic manufacturing capabilities to make it globally competitive, create economies of scale, and make India an integral part of the global supply chains. It is heartening to see that the textile and apparel industry, that contributes to around 5% of India’s GDP and 12% to exports income, is amongst the 13 thrust sectors recognised by the government. By offering incentives on incremental sales from domestically manufactured products, the government has taken a firm step towards not just revitalising the country’s economy, but also empowering the national manufacturers to become the drivers of growth and prosperity.”