PLI
FOR MAN MADE FIBRES - ECONOMY
News:
Textiles
ministry reopens PLI portal for MMF sector
What's
in the news?
● The
Ministry of Textiles has decided to
re-open the performance-linked incentive (PLI) scheme portal till August 31 and
has invited applications from companies interested in investing in man-made fibers
(MMF) apparel, MMF fabrics, and technical textile sectors.
Key
takeaways:
● The
second edition of the Production linked incentive (PLI) Scheme for textile has
been released.
Coverage:
● Includes
manufacture of garments, textiles and
accessories of both natural and man-made fibers. (Before that only man-made
fiber fabrics and apparels)
Outlay:
● Rs.
4,307crore
Nodal
Ministry: Ministry of Textiles
Significance:
● Value
addition.
● High
employment generation potential.
● Higher
returns vis a vis low investment.
● Boost
MSME sector.
● Incentives of 8-10 %.
● All companies could
participate, earlier only for newly registered companies.
● For
existing companies new investment will be considered for the PLI scheme and separate
account is to be maintained for this scheme.