Government Approves 96 Companies Under Round III of Textile PLI Scheme with ₹12,822 Crore Investment

The Government of India has approved 96 companies under the third round of the Production Linked Incentive (PLI) Scheme for Textiles, as per PIB news report.  

This initiative is designed to boost manufacturing and employment within the sector. 

Investment and Employment Opportunities 

The newly approved companies are set to bring a total investment of ₹12,822.67 crore. This substantial financial commitment is expected to generate a projected turnover of ₹58,294.18 crore in notified products.  

Furthermore, the initiative is anticipated to create 36,217 employment opportunities across the textile value chain. 

The companies span key focus segments of the PLI Scheme, including Man-Made Fibre (MMF) Apparel, MMF Fabrics, and Technical Textiles.  

This diversification is aimed at strengthening India's position as a global hub for value-added textile manufacturing. 

Focus on Sunrise Segments 

The addition of these companies under the PLI Scheme reflects the continued industry response to the Government's efforts to promote investments in sunrise segments of the textile sector.  

The proposed investments and production capacities are expected to support the development of a robust and globally competitive textile ecosystem. 

Read More: Government Forgoes ₹1.23 Lakh Crore Revenue to Back OMCs Amid Petrol, Diesel Duty Cuts! 

Alignment with Aatmanirbhar Bharat Vision 

This initiative aligns with the vision of Aatmanirbhar Bharat, aiming to make India self-reliant by enhancing its manufacturing capabilities.  

The focus on MMF Apparel, MMF Fabrics, and Technical Textiles is expected to drive growth and innovation within the sector. 

Conclusion 

The approval of 96 companies under the Textile PLI Scheme's third round marks a significant step in boosting manufacturing and employment in the sector.  

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