The deadline for applying for the PLI scheme has been extended once more

16 February 2022, Mumbai:

The Ministry of Textiles (MoT) has extended the deadline for submissions under the Production Linked Incentive (PLI) scheme for textiles by another 14 days, until February 28.

The earlier deadline for submitting an online application under the PLI scheme for textiles was 14 February, which was extended from 31 January, and this is the second time the MoT has extended the deadline in this respect.

PLI plan is projected to attract good investment with an authorized budget of Rs. 10,683 crore for five years to encourage the manufacturing of MMF garments, MMF fabrics, and technical textile goods.

The project was approved by the Cabinet in September and will run from September 24, 2021, to March 31, 2030. According to sources, the Ministry of Transportation has received 69 registrations, 42 file draught applications, and eight final applications.

ALSO READ: Production Linked Incentive (PLI) Scheme for Textiles: Operational guidelines issued

According to reports, MoT may be able to choose 50-60 enterprises for the plan, although the exact number would depend on the size of the applications received.

Because this is a fund-limited scheme, the number of beneficiaries will be determined by the size of the firms and their estimates.

It's possible that the available capital may be depleted after 20-25 firms, or that 60-70 companies will be allowed to participate.

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*Figures mentioned in the above article have been sourced from Timesnownews & Apparel Resources article.