Textile Ministry drafts ‘PLI Scheme’ focused on value-addition to benefit more businesses
17th July 2021,Mumbai:
The Textile Ministry has re-drafted the Rs 10,683 crore Production Linked Incentive (PLI) scheme for the textile sector, to include a wider range of items with focus on value-addition.
As per a SRTEPC report, the redrafted PLI scheme for the Textile industry will be implemented through the Focus Product Incentive Scheme which is focused on creating global champions in man-made fibre (MMF) and technical textiles sectors.
The scheme will provide incentive from 3 per cent to 15 per cent on stipulated incremental turnover for a period of five years after one year gestation period for brownfield investment (companies already in operation) and two years gestation period for greenfield investment (new set-ups).
Watch: https://www.youtube.com/watch?v=iD9B_L538HQ
Related News:
AEPC welcomes extension of RoSCTL scheme till March 31, 2024
Retailers Association of India, urges Maha govt to let Malls following COVID protocols open
Reliance Retail dials in 'Just Dial'
The initial plan of the Textile Ministry was to offer the Rs 10,683 crore allocated under the scheme for incremental production in 40 identified MMF apparel items and 10 technical textiles lines over five years. But the industry and experts pointed out that it was important not to restrict the benefits to end-products such as sweaters, garments, diapers and sanitary napkins but to also extend it to much needed inputs for the industry such as fibre and filaments to encourage value addition in the country.
Read More:
Amazon India launches new ‘Spotlight North East’ storefront
Ensemble launches new festive collection for Eid-al-Adha
Bewakoof.com eyes Rs 1,000 crore revenues in 2 years, forays into new categories
