| | NOVEMBER 20218THE IMPLICATIONS OF PLI SCHEME IN THE GROWTH OF TEXTILE INDUSTRY IN INDIABy Sanjay Desai, Director, FabcurateI n March 2020, the govern-ment of India debuted its production-linked incen-tive program. India is to be promoted as a manufacturing and export center through this scheme. By removing barriers between regions & creating conducive economic conditions for the industrial sector, it aims to foster a sustainable econom-ic climate. One of the beneficia-ries of this scheme will be the textile industry in India. Taxes on raw materials have been re-duced by the government, thus reducing the burden on owners. To establish the appearance of being the textile hub, India is introducing this scheme. ADVANTAGESIn addition to creating three lakh jobs, the government is also planning about Rs.19000 crores of investment with the PLI Scheme. In textile indus-tries, employment is expect-ed to rise, as more people can profit from this scheme. Tax deductions on raw materials VANTAGE POINTSanjay Desai
< Page 7 | Page 9 >