The government issued the operational guidelines for the Production Linked Incentive (PLI) Scheme for the textiles sector with an approved outlay of Rs 10,683 crore. An Empowered Group of Secretaries (EGoS) chaired by the Cabinet Secretary will look into the progress of the scheme and take appropriate actions accordingly.
The EGoS is also empowered to make any changes in the modalities of the scheme and address any issue related to genuine hardship that comes out during the course of implementation.
Under the scheme, FY 2024-25 will be considered as the first performance year with a minimum prescribed turnover of Rs 600 crore, according to the guidelines issued by the textiles ministry.
The Government approved the PLI Scheme for Textiles, with an approved outlay of 10683 crore over a five year period and to promote production of MMF (man-made fibre) Apparel, MMF Fabrics and Products of Technical Textiles in the country.
Any company, trust willing to create a separate manufacturing firm under the Companies Act 2013, and invest a minimum Rs 300 crore, excluding land and administrative building cost, to manufacture notified products will be eligible to get the incentives.
