The deadline for the PLI programme has been extended, and the CII is calling for increased PLI rates
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01 February 2022, Mumbai:
The deadline for submitting applications under the PLI (Production Linked Incentive) Scheme for Textiles has been extended by the Ministry of Textiles (MoT) till February 14,2022.
Previously, the deadline for submitting an online application for the PLI Scheme for Textiles was 31 January 2022.
The PLI plan, which has been authorized for a five-year expenditure of Rs. 10,683 crore to stimulate the manufacturing of MMF garments, MMF fabrics, and technical textile goods, is projected to attract significant investment.
The PLI plan prioritizes manufacturers located in aspirational districts or Tier-3 and Tier-4 cities, benefiting states such as Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, and Telangana. Separately, the Confederation of Indian Industry (CII) has stated that the Budget should include higher PLI rates in order to stimulate manufacturing job growth.
"With the need to maintain jobs and generate new jobs as the country recovers from the epidemic, CII recommends that the incentive include a job-creation component."
The incentives might be based on the projected number of jobs produced in the project, with job creation receiving more weight in the PLI schemes, according to CII.
CREDITS: Apparel Resources
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