MNS Store
MONEY NOT SLEEP
  • Indian Stock Market
  • International Market
  • Crypto
  • International News
  • हिंदी मे
  • My Tools
No Result
View All Result
  • Indian Stock Market
  • International Market
  • Crypto
  • International News
  • हिंदी मे
  • My Tools
No Result
View All Result
MONEY NOT SLEEP
MNS Store
Home India News

The government’s PLI initiative for textiles has attracted investments of Rs 1,536 crore

moneynotsleep by moneynotsleep
December 27, 2022
in India News, Indian Stock Market
0
PLI Initiative
0
SHARES
2
VIEWS

The government said on Monday that the Rs 10,683-crore PLI initiative incentive plan for India’s textiles sector had attracted investments worth Rs 1,536 crore after permission letters were granted to 56 applicants who matched the qualifying requirements.

From January 1, 2022, to February 28, 2022, applications for the PLI Scheme for textiles were accepted via a website.

With an authorized budget of Rs 10,683 crore, the Centre created the PLI Scheme to stimulate the manufacture of MMF garments, MMF fabrics, and Products of Technical Textiles in the country, allowing the textiles sector to reach size and scale and become competitive.

“The scheme’s selection committee, led by the Secretary (Textiles), has chosen 64 candidates. 56 applicants have satisfied the required conditions for creating a new company and have received permission letters. So far, a total of Rs 1,536 crore has been invested “According to an official release.

According to the government, domestic cotton farming has expanded by 5% to 125.02 lakh hectares, up from 119.10 lakh hectares last year. A brand entitled ‘Kasturi Cotton India’ for Indian cotton has been developed to stimulate automated harvesting, improve cotton quality, and cut labor costs.

Furthermore, 74 research projects totaling Rs 232 crore have been granted under the National Technical Textile Mission (NTTM) for specialty fiber and technical textiles, according to the Textiles Ministry’s year-end evaluation for the segment.

The Production Linked Incentive (PLI) scheme is a government program in India that aims to boost domestic manufacturing and increase exports by providing financial incentives to companies that increase their production capacity and achieve global scale. The PLI scheme has been implemented in a number of sectors, including the textile industry.

In the textile industry, the PLI scheme is expected to have a number of positive impacts, including:

Increasing production: The scheme provides financial incentives to companies that increase their production capacity, which is expected to boost domestic production and make Indian textiles more competitive in the global market.

Promoting exports: The scheme also provides incentives to companies that increase their exports, which is expected to help Indian textile companies tap into new markets and expand their global reach.

Creating jobs: The scheme is expected to create new job opportunities in the textile industry, as companies expand their operations and increase production.

Boosting innovation: The PLI initiative scheme provides incentives for companies that adopt new technologies and processes, which is expected to drive innovation and improve the efficiency and competitiveness of the textile industry in India.

Overall, the PLI scheme is expected to have a positive impact on the textile industry in India, by helping companies increase their production capacity, expand their exports, create new jobs, and drive innovation.

Related

moneynotsleep

moneynotsleep

Stay Connected test

  • 23.8k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Stock market loopholes in India

8 Major Stock Market Loopholes In India

December 3, 2022
New York Stock Exchange (NYSE), USA

Top 10 biggest stock exchanges in the world 2022

November 26, 2022
stocks for swing trading

How To Select Stocks For Swing Trading

November 30, 2022
Top Stock Market Investors In India 2022 And Their Portfolios

Top Stock Market Investors In India 2022 And Their Portfolios

December 1, 2022
New York Stock Exchange (NYSE), USA

Top 10 biggest stock exchanges in the world 2022

3

Amazon is the latest company to join the wave of layoffs, following Meta and Twitter

2
TATA TECH IPO

Tata Tech IPO Is Coming: First IPO After 18 Years

2
Union Budget 2023

Union Budget 2023: what should you anticipate

2
Vedanta 52-Week Low

Vedanta 52-Week Low Despite ₹2500 Crore Raise

September 22, 2023
Berger Paints 52-week high

Berger Paints 6% Surge to 52-Week High on Ex-Bonus

September 22, 2023
NBCC Order from SAIL

NBCC Rs 100 Crore Order Win from SAIL

September 22, 2023
Apollo Tyres Share Price drops

Apollo Tyres Share Price Drops 2% Amid Gujarat Unit Suspension

September 21, 2023

Recent News

Vedanta 52-Week Low

Vedanta 52-Week Low Despite ₹2500 Crore Raise

September 22, 2023
Berger Paints 52-week high

Berger Paints 6% Surge to 52-Week High on Ex-Bonus

September 22, 2023
NBCC Order from SAIL

NBCC Rs 100 Crore Order Win from SAIL

September 22, 2023
Apollo Tyres Share Price drops

Apollo Tyres Share Price Drops 2% Amid Gujarat Unit Suspension

September 21, 2023
Vedanta 52-Week Low
Indian Share Market

Vedanta 52-Week Low Despite ₹2500 Crore Raise

by DigiBro Digital
September 22, 2023
0

In this article, we delve into the recent developments surrounding Vedanta Limited shares hitting a 52-week low despite their efforts...

Read more
Berger Paints 52-week high

Berger Paints 6% Surge to 52-Week High on Ex-Bonus

September 22, 2023
NBCC Order from SAIL

NBCC Rs 100 Crore Order Win from SAIL

September 22, 2023
Apollo Tyres Share Price drops

Apollo Tyres Share Price Drops 2% Amid Gujarat Unit Suspension

September 21, 2023
National Cinema Day 2023

National Cinema Day 2023: 100 रुपये से कम में सभी फिल्मों के टिकट!

September 21, 2023
  • About us
  • Apply For Job
  • Contact us
  • Disclaimer
  • Privacy policy

© 2022 Moneynotsleep

No Result
View All Result
  • Crypto
  • Indian Stock Market
  • International Market
  • International News
  • हिंदी मे
  • My Tools

© 2022 Moneynotsleep