14th September 2021, Mumbai:
Shahi Exports, Orient Craft, and Pallavaa Group, India's largest garment exporters, are among the major firms interested in the Production Linked Incentive (PLI) plan.
In India, there are over 1,350 textile enterprises with annual exports of over Rs. 100 crore and these businesses are likely to profit the most from this plan.
A few other major corporations are also interested in this program and want to apply. The Ministry of Textiles has decided to exclude non-GST and non-banking channel sales in computing the yearly turnover, according to Vijoy Kumar Singh, Additional Secretary, Ministry of Textiles.
As a result, no one may claim cash sales by claiming that they occurred in a store without creating a bill. “Nobody would be permitted to game the system,” he claimed. It's worth noting that the Ministry of Textiles (MoT) is scheduled to release comprehensive rules for the program, after which the industry will be asked to submit applications. This is scheduled to begin in November 2021.