The Centre on Thursday extended the deadline for the PLI Scheme for Textiles till October 31st.
Key Highlights
- Deadline for the Textiles PLI Scheme set at October 31.
- Fresh applications sought in MMF Apparel, MMF Fabrics, and Technical Textiles sector.
The Ministry of Textiles on Thursday released a notification extending the last date for submission of applications under the Production Linked Incentive Scheme to October 31, 2023. Under the scheme, subsidies are given on incremental sales targets in the Man-made Fibre (MMF) sector, and Technical Textiles sector.
Within the Man-Made Fibre (MMF) sector, applications were invited for the MMF Apparel sector and the MMF Fabrics sector.
According to the notification, the decision was taken after requests were made from the stakeholders in the Industry. Fresh applications are invited for the scheme on the PLI Portal till October 31.
The scheme has been extended given the utilised corpus with the ministry.
In an earlier development, the Ministry had reopened the scheme in July with the deadline being set at August 31, 2023.
Significance of the PLI Scheme for Textiles
The PLI Scheme for Textiles is significant because of the employment generation capacity of the sector.
As per the government records, more than 45 million people are directly employed in the sector. It has the highest labour-absorbing capacity after the Construction and Real Estate sector.
The PLI Scheme for the Textile Sector can help crowd in investments in the sector, increasing the capacity to generate employment.
The government had also announced the establishment of 7 textile parks called MITRAs– Mega Investment Textiles Parks in the 2021-22 Budget to supplement its Textiles PLI scheme.
Given the employment generation capacity of the sector, especially for women, the Centre has time and again modified schemes for the textile sector to address the industry’s concerns.
