The textile sector is worried about the stringent parameters, including the Rs 600-crore turnover and targets of additional incremental turnover of 25 per cent over the preceding year
The shares of textile sector have witnessed renewed buying interest by market participants after the Union Cabinet approved the production-linked incentive (PLI) scheme on Wednesday.
The scheme will attract fresh investment of over Rs 19,000 crore, a cumulative turnover of over Rs 3 trillion
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The government is believed to have slashed the outlay for the automobile sector under the production-linked incentive (PLI) scheme to about Rs 26,000 crore
The cabinet has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles
Top Nifty gainers included Kotak Mahindra Bank, Powergrid, Grasim and BPCL, among others
After the approval, the textiles ministry would come with detailed guidelines of the scheme for these sectors
The prime objective of the scheme is to make manufacturing in India globally-competitive by removing sectoral disabilities, creating economies of scale and ensuring efficiencies
Saion Mukherjee says the market is already factoring in earnings recovery from the June 2021 quarter
Goyal says PLI and mega textile parks scheme to be approved soon
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'We must aim for a $100 billion export target in the next five years,' says Textiles Minister
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Rising commodity prices, he believes, cannot sustainably derail the bullish market momentum
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The budgetary outlay for the scheme is Rs 6,238 crore
PLI for pharmaceutical products has export generation potential of Rs 1,96,000 crore over a period of six years, Parliament was informed on Tuesday.