India’s number one apparel exporters Shahi Exports, Orient Craft and leading textile company Pallavaa Group are some of the leading companies who are interested in Production Linked incentive (PLI) scheme.
There are more than 1,350 textile companies in India having annual exports of over Rs. 100 crore and such companies are expected to benefit more from this scheme.
Few other leading companies are also interested in this scheme and are planning to apply for the same.
Sharing this information, Vijoy Kumar Singh, Additional Secretary, Ministry of Textiles told news agency ANI, The Ministry has decided to disallow non-GST and non-banking channel sales in calculating the annual turnover. So, no one can claim cash sales arguing that sales happened through a shop without generating bill. He said, “Nobody would be allowed to game the system.”
It is pertinent to mention here that the Ministry of Textiles (MoT) is expected to issue detailed guidelines of the scheme following which applications from the industry will be invited. This is expected to start from November 2021.
The PLI scheme is for MMF and technical textile.