The production-linked incentive scheme for India’s textile sector has attracted investments of Rs 1,536 crores.

Approval letters were issued to 56 applicants who met the eligibility criteria. Applications under the PLI scheme for textiles were received through a web portal from January 1, 2022, to February 28, 2022. The PLI scheme with an approved outlay of Rs 10,683 crores was launched to promote the production of manmade fiber, apparel, manmadefabrics and products of technical textiles in the country to enable the textile industry achieve size and scale and become competitive.

Applicants who have completed the mandatory criteria for the formation of a new company have had approval letters issued to them. Investment to the tune of Rs 1,536 crores has been made so far.

There is now the second edition of the Production Linked Incentive (PLI) scheme. The scheme for garments, made-ups and home textiles will have lower minimum investment and turnover requirements so as to attract small and medium entities. The incentives on offer are slightly lower than what was offered under PLI 1 but the scheme is still attractive. The minimum investment requirement for the first part is Rs300 crores with a minimum turnover requirement of Rs600 crores. Part two requires a minimum investment of Rs100 crores with a minimum turnover requirement of Rs200 crores.