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Textile Sector Received $1522.23 Mn FDI From 2017-2022: Govt Tells Lok Sabha
Centre has approved the Production Linked Incentive (PLI) scheme for textiles, with an approved outlay of Rs 10,683 crore
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India's textile sector received foreign direct investment (FDI) of USD 1522.23 million from 2017-2022, said the Union Minister of State for Textiles Darshana Jardosh in a written reply to a question in Lok Sabha on Wednesday.
Jardosh cited the economic survey 2021-22 and said that the employment in the unorganised sector in 2019-20 was 43.99 crore.
The minister informed said that the government has approved setting up of seven Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) parks in greenfield and brownfield sites with an outlay of Rs 4,445 crore for seven years upto 2027-28.
Centre has approved the Production Linked Incentive (PLI) scheme for textiles, with an approved outlay of Rs 10,683 crore, to promote the production of man-made fibre (MMF) apparel, fabrics and products of technical textiles, said Jardosh.
"Government has allocated an outlay of Rs 1480 crore for the National Technical Textiles Mission (NTTM) to promote and develop the technical textiles sector in India," added the minister.
Meanwhile, India has so far signed 13 free trade agreements (FTAs) including the recently concluded Comprehensive Economic Partnership Agreement with UAE and Economic Cooperation and Trade Agreement with Australia and six preferential trade agreements with various trading partners.
"Government has entered into negotiations for FTA with trading partners such as the United Kingdom, European Union, Canada for enhancing market access of Indian products including textiles," said Jardosh.