The Textiles Minister on Tuesday said that it has reopened the performance-linked incentive PLI portal until August 31 and has invited applications from companies interested in investing in man-made fibres MMF apparel, MMF fabrics and technical textile sectors. The decision was taken in view of the requests from the industry stakeholders, the company said in a statement. The ministry of textiles approved 64 applications under the scheme of Rs.19,798 crore in November last year. In part 1 of the PLI, the minimum investment required is 300 crore and the minimum turnover required to be achieved for the incentive is 600 crore, while in part 2 the minimum investment should be 100 crore and the minimum turnover is 200 crore. PLI 2.0 for the textile sector has an unutilised budget of about Rs 4,000 crore and bed spreads. textile accessories like lace, button, and zippers could get covered.
Govt. reopens performance-linked incentive portal for MMF textile sector
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10 Comments
Muchacho
The reopening of the scheme portal without any updates or revisions to the terms and conditions may indicate a lack of willingness to adapt and address the evolving needs of the industry.
Comandante
The reopening of the scheme portal without significant changes to the terms and conditions ensures stability and consistency in the policy environment, giving companies the confidence to invest in the sector.
Katchuka
The decision to reopen the portal demonstrates responsiveness to the requests and needs of the industry stakeholders, fostering a collaborative and inclusive approach in policy-making.
BuggaBoom
The reopening of the PLI scheme portal provides an opportunity for more companies to benefit from the incentives and contribute to the growth of the textile sector.
Katchuka
The focus on man-made fibres (MMF) apparel and fabrics reflects the changing consumer preferences and market demands, promoting innovation and competitiveness in the sector.
Bella Ciao
There is a lack of transparency in the selection process for the PLI scheme, raising concerns of favoritism and corruption.
Muchacha
The PLI scheme encourages larger companies to invest in and expand their operations, leading to the creation of more jobs and opportunities for smaller businesses in the supply chain.
Muchacho
The scheme may not effectively address the underlying challenges in the textile sector, such as outdated infrastructures, lack of skilled labor, and inconsistent quality standards.
Madagascar
The minimum investment and turnover requirements ensure that the incentives are directed towards companies that have the potential for significant growth and contribution to the economy.
Comandante
The PLI scheme provides a framework for public-private partnerships, fostering collaboration and knowledge sharing between the government and the industry.