Govt extends textile PLI to December 31

The Performance-linked incentive (PLI) is a scheme dedicated to textiles, covering man-made fibre apparel, fabrics, and technical textile products

November 2, 2023

This decision comes after the textile ministry had previously reopened the PLI scheme portal, initially allowing applications until August 31

India has a focused aim to bolster its manufacturing capabilities for man-made fiber (MMF) apparel, fabrics, and technical textile products through the PLI Scheme

This endeavour is expected to empower the nation's textile industry to expand its footprint in the market, bolster global competitiveness, and create job prospects

India plans to achieve a textile production value of US$ 250 billion by 2030

The government announced an extension of the application deadline for the performance-linked incentive (PLI) scheme dedicated to textiles, covering man-made fibre apparel, fabrics, and technical textile products. 

The new deadline for submitting fresh applications has been prolonged until December 31 in response to requests from industry stakeholders. 

This decision comes after the textile ministry reopened the PLI scheme portal, initially allowing applications until August 31. 

In particular, India aims to bolster its manufacturing capabilities for man-made fiber (MMF) apparel, fabrics, and technical textile products through the PLI Scheme. 

This endeavour is expected to empower the nation’s textile industry to expand its footprint in the market, bolster global competitiveness, and create job prospects. India has set its sights on achieving a textile production value of US$ 250 billion and exports worth US$ 100 billion by the year 2030.

Source: Economic Times

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