Govt Extends Application Submission Window For PLI In Textile. Details HERE

Earlier the last date of submission of online application under PLI Scheme for Textiles was till January 31.

New Delhi: The Union government has extended the timeline for submission of applications under the Production Linked Incentive (PLI) Scheme for textile till February 14, said the Ministry of Textiles on Friday. 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 eligible applicants may apply through online link https://pli.texmin.gov.in/mainapp/Default.

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 5 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.

Under both parts, the required turnover will have to be achieved after a gestation period of two years. The gestation period will give the company participating in the scheme time to set up the manufacturing unit and begin production.

Under the PLI scheme, factories based around aspirational districts or Tier-3 and Tier-4 cities will be given priority, which will especially benefit states like Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana.