The Ministry of Textiles will accept applications from January 1 for the Production Linked Scheme for Textiles announced in September this year. Announcing the finalised operational guidelines for the scheme recently, the Ministry said applications will be accepted on https://pli.texmin.gov.in/mainapp/Default till the end of January.
According to an official statement, the government approved the PLI Scheme for Textiles with an outlay of Rs. 10,683 cr over a five-year period to promote production of manmade fibre apparel, manmade fibre fabrics, and technical textile products.
Upendra Prasad Singh, the Textiles Secretary, told that, the portal was ready and the window to accept applications will open on January 1.
According to the guidelines, the scheme is operational from September 24, 2021 (date of notification) to March 31, 2030 and the incentive will be payable for five years only. The first performance year is 2024-2025 and the units have 2022-2024 to invest and start operations.
The participants are eligible to apply for other schemes of the Central and State Governments. Foreign (non-resident) investment in the participant’s company should be in compliance with the norms of the consolidated FDI Policy 2020. The detailed guidelines are available on the Ministry’s website.
