The Centre Government plans to launch the second edition of the PLI scheme, that would be dedicated to the apparels and garments sector The new scheme would have a lower investment criteria, to ensure that the entire Rs10,683 crore of incentives allocated under the scheme gets fully utilized and relatively smaller players can also benefit.
The Textile Ministry is projected to utilize a little more than Rs6,600 crore for the current investors under the scheme and has enough funds to invite a second round of applicants.
The Textile Ministry has approved the applications of three additional companies under the production-linked incentive (PLI) scheme for textiles, which includes Birla Fashion and Retail and RSWM of the Bhilwara Group, taking up the total number of selected applicants to 64.
Of the three fresh approvals, one application from RSWM, one of the largest yarn manufacturing companies in India, was under part 1 of the scheme. The minimum investment requirement under the first part is Rs300 crore with minimum turnover required to be achieved for getting incentive at Rs600 crore.
The other two approvals, one from Birla Fashion and Retail and the other from Pan Healthcare, are under part two, with minimum investment of Rs100 crore and minimum turnover required to be achieved for incentive is Rs200 crore.
