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.