The Textiles Ministry has decided to invite fresh applications from interested companies for Production Linked Investment (PLI) scheme of textiles for MMF apparel, MMF fabrics and products of Technical Textiles and has re-opened the application portal till August 31 2023.
The decision has been taken in view of the requests from industry stakeholders, per a statement issued by the Textiles Ministry on Tuesday.
“All the terms and conditions notified earlier vide notifications and guidelines shall be applicable,” it said.
The entire ₹10,683 crore corpus set aside for the PLI scheme for textiles (MMF and Technical Textiles) did not get exhausted following the application process for the scheme opened last year. In fact, per calculations, the 64 candidates selected for the scheme so far would use up a little more than ₹6,000 crore in the form of incentives, leaving a surplus of about ₹4,300 crore.
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The Textile Ministry has been reportedly working on a second edition of the PLI scheme that was proposed to be open for manufacturers of garments, made-ups and textiles accessories of all materials, natural or man-made, including cotton.
Government officials had earlier suggested that the proposed PLI 2.0 for textiles could have lower investment and turnover threshold so that smaller players could qualify.
There is no definite indication yet from the government on whether PLI 2.0 can still be expected and when that might happen.