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Published
Jan 31, 2022
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Government extends application deadline for PLI scheme for textiles

Published
Jan 31, 2022

The government announced that it has extended the application deadline for its Production Linked Incentives scheme for textiles to February 14 to give textile businesses more time to apply. 

The PLI scheme aims to boost India's MMF and technical textile sectors


“Earlier, the date of submission of online application under PLI scheme for textiles up to 31st January 2022,” the Union Textiles Ministry said in a statement on January 28, the Press Trust of India reported. 
 
The PLI scheme for textiles is scheduled to run until March, 2030 and incentives under the scheme will be payable for five years, according to the government. Businesses which agree to create a separate manufacturing business under the 2013 Companies Act and invest a minimum of Rs 300 crore in the venture (excluding land and administrative costs) will be eligible to receive the PLI scheme’s incentives if they are able to reach a revenue total of Rs 600 in their first performance year which would be the 2025 financial year. 

For smaller businesses, any company which creates a separate manufacturing business with an investment of Rs 100 crore (also excluding land and administrative costs) will be eligible for the PLI scheme’s incentives when it reaches a turnover of Rs 200 crore in the first performance year. 
 
The PLI scheme for textiles includes incentives valued at Rs 10,683 crore, according to guidelines on the scheme released by the Ministry of Textiles at the end of 2021. The scheme aims to expand India’s man-made fibre and technical textiles segments to boost the country’s standing in the global export market. 

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