PLI scheme for textiles: Center extends deadline for purposes until Feb 14 | Economy News


New Delhi: The authorities has prolonged the deadline until February 14 for submitting purposes for the Rs 10,683 crore-Production Linked Incentives scheme for textiles.

“Earlier, the date of submission of online application under PLI Scheme for Textiles was up to 31st January 2022,” the textiles ministry mentioned in an announcement on Friday.

As per the prescribed norms, the scheme might be in operation from September 24, 2021 to March 31, 2030 and the motivation beneath the scheme might be payable for 5 years.

Any firm/agency/LLP/belief prepared to create a separate manufacturing agency beneath the Companies Act, 2013, and make investments a minimal Rs 300 crore, excluding land and administrative constructing value, to fabricate notified merchandise might be eligible to get the motivation. This is topic to the entities reaching a minimal of Rs 600 crore turnover by the primary efficiency yr.

Under the scheme, FY 2024-25 might be thought of as the primary efficiency yr. Also Read: CAIT strikes to CCI in opposition to ‘Chinese’ agency Shopee for hurting Indian SMEs

Any firm/agency/LLP/belief prepared to create a separate manufacturing firm and make investments a minimal of Rs 100 crore, excluding land and administrative constructing value, to fabricate notified merchandise might be eligible to get incentive once they obtain a minimal of Rs 200 crore turnover by the primary efficiency yr. Also Read: LIC Policy: Invest Rs 233 every day to get Rs 17 lakh on maturity, verify how

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