Textile Ministry (MoT) proposes grading system for sector PLI benefits
19th October 2021, Mumbai:
The Textile Ministry's recent draft finer points/ guidelines are quite indicative that a point-based system with well-defined criteria entailing job provider, location, entities' financials, economic prospects, and technological fit & proper criteria/ soundness.
Ministry has set in criteria of 'A grading system to identify units for the ₹10,683 crore Sector Production Linked Incentive (PLI) scheme for man-made fiber (MMF) and technical textiles segments giving priority to manufacturers and entities creating job opportunities, located in areas under reached/ smaller cities, which are otherwise an apt choice as in financially fit & proper/ sound, have relevant experience, wherewithal, technical capacity and are keen to invest in integrated production system rather than in piecemeal/ single segment.
The scheme draft will be fine-tuned & operationalized only after the consultative process deriving feedbacks from all multi-stakeholders.
More importantly, the Ministry has also conveyed that subject to a critical threshold of turnover for the incentive if not achieved in a specified year by participating entity, they will not be entitled for incentives in the year in question albeit will not be restricted from claiming the incentive in the following years, provided they meet the all the eligibility criteria as applicable.
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