Dec 29, 2021
Indian textile ministry issues guidelines for Rs 10,683 crore PLI scheme
Dec 29, 2021
The Indian ministry of textiles issued the operational guidelines for Production Linked Incentive (PLI) Scheme for textiles for promoting man-made fibre (MMF) and technical textiles segments. An Empowered Group of Secretaries (EGoS) chaired by cabinet secretary will monitor its progress and address issues within the overall financial outlay of Rs 10,683 crore ($1.3 billion).
The EGoS will also undertake periodic review of the outgo under the scheme; ensure uniformity with other PLIs, make changes in the modalities of the scheme and take appropriate action to ensure that the expenditure is within the prescribed outlay, the ministry said in a notification issued on Tuesday.
Application window for registration under the Scheme will be opened for the period from 1st January, 2022 to 31st January, 2022 through the online portal. The Scheme is in operation from 24th September, 2021 (Date of Notification) to 31st March 2030 and the incentive under the Scheme will be payable for a period of 5 years only.
The PLI Scheme is intended to promote production of MMF apparel & fabrics and technical textiles products in the country to enable textile industry to achieve size and scale; to become globally competitive and a creator of employment opportunities for people. The scheme is to support creation of a viable enterprise and competitive textile industry.
Copyright © 2022 Fibre2Fashion. All rights reserved.