Govt. Extends Application Submission Window For PLI In Textile

Trade & Policy

Govt. Extends Application Submission Window For PLI In Textile

The Union government has extended the timeline for submission of applications under the Production Linked Incentive (PLI) Scheme for textile till February 14, the Ministry of Textiles informed. Earlier the last date of submission of online application under PLI Scheme for Textiles was till January 31. The Centre had approved the PLI scheme for the textile industry in December. Under the scheme, the government will provide incentives worth Rs 10,683 crore, for over five years, for manufacturing man-made fabrics, man-made garments and other products of technical textiles. Earlier, the application window was supposed to remain open from January 1 to January 31, but now the deadline has been extended by two more weeks till February 14. The scheme is in operation from September 24, 2021 (date of notification) to March 30, 2030 and the incentive under the scheme will be payable for a period of five years only. The government will finalise the applicants within 60 days from the date of closure of the application window. As per the guidelines, there are two types of investments possible with different sets of incentive structures. Under the first part, any company that invests a minimum Rs 300 crore in plant, machinery, equipment and civil works will be eligible to get incentives when it achieves at least Rs 600 crore turnover by manufacturing and selling products under the scheme. Under the second part, any company that invests a minimum Rs 100 crore in plant, machinery, equipment and civil works will be eligible to get incentives when it achieves at least Rs 200 crore turnover by manufacturing and selling.