The Ministry of Textiles vide notification dated 24th September, 2021 has launched the Production Linked Incentive (PLI) scheme to promote production of MMF Apparel & Fabrics and, Technical Textiles products in the country to enable Textiles Industry to achieve size and scale; to become competitive and a creator of employment opportunities for people.
Incentives under the scheme will be available for 5 years period i.e. during FY 2025-26 to FY 2029-30 on incremental turnover achieved during FY 2024-25 to FY 2028-29 with a budgetary outlay of Rs. 10,683crore. However, if a company is able to achieve the investment and performance targets one year early then, they will become eligible one-year in advance starting from 2024-25 to 2028-29 i.e. for 5 years.
Detailed operational guidelines for inviting application, selection of eligible participants, effective monitoring of the scheme, releasing of incentives, and appropriate grievance redressal mechanism etc. will be finalized and notified after inter-ministerial consultations.
