The Government has finalised operational guidelines for Production Linked Incentive (PLI) Scheme for textiles, and Ministry of Textiles (MoT) will accept online applications for the same from 1 January 2022. The application window will remain open till 31 January 2022.
After screening of the applications, MoT shall publish the list of selected entities on the basis of recommendation of a selection committee under the Chairmanship of Secretary Textiles.
To promote the production of MMF-based apparel, MMF fabrics and products of technical textiles, the Government recently approved the PLI Scheme for textiles, with an approved outlay of Rs. 10,683 crore over a five-year period.
These scheme guidelines are being issued following consultations with all stakeholders including DPIIT, NITI Aayog, Department of Commerce, Department of Expenditure, Department of Revenue, Export Promotion Councils (EPCs) and trade bodies.
The applicant, once selected under the scheme, shall form a new company under the Companies Act, 2013 before the commencement of investment.
As per the guidelines, if any proposed unit desires to shift the location of their investment in upcoming PM-MITRA Park, then that will be permitted under this scheme without any change in time period.
The participant is required to seek prior permission of MoT before changing the location.
As per the prescribed norms, the scheme will be operational from 24 September 2021 to 31 March 2030 and the incentive under the scheme will be payable for a period of 5 years only.
