Govt extends textile PLI application date till Oct 31, Retail News, ET Retail

The government on Thursday extended by two months till October 31, the date of inviting fresh applications under the performance-linked incentive (PLI) scheme of textiles for manmade fiber apparel, fabrics, and products of technical textiles.

The textile ministry had in July reopened the PLI scheme portal till August 31 “in view of the requests from the industry stakeholders”.

“The Ministry of Textiles has decided to extend the date of inviting fresh applications under the PLI scheme of textiles for MMF apparel, MMF fabrics, and products of technical textiles for further two months i.e. up to October 31, 2023,” the ministry said in a statement.

The textiles ministry had approved 64 applications under the Rs 19,798 crore scheme last year. In part 1 of the PLI schemes, the minimum investment required is Rs 300 crore and the minimum turnover required to be achieved for the incentive is Rs 600 crore while in part 2, the minimum investment should be Rs 100 crore and the minimum turnover is Rs 200 crore.

PLI 2.0 for the textile sector is being considered as the ministry has an unutilized budget of about Rs 4,000 crore and bedspreads, and textile accessories like lace, button, and zippers could get covered.

  • Published On Sep 1, 2023 at 08:15 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRetail App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App


News5h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button