NEW DELHI: The Centre on Thursday shortlisted 61 companies under the Production Linked Incentive (PLI) Scheme with an approved financial outlay of Rs 10,683 crore for a period of five years, the textiles ministry said.
This would generate direct jobs of 2,40,134. A total of 67 applications were received for the PLI scheme. These companies elected for PLI scheme include Shahi Exports, Trident Ltd, Paragon Apparel, Pratibha Syntex, Avgol India, HP Cotton etc.
As per Textile Minister UP Singh, in the above 61 applications, the proposed total investment expected from the applicants is Rs 19,077 crore and a projected turnover is Rs 1,84,917 crore over a period of 5 years.
“The scheme has two parts, Part 1 where minimum investment is Rs 300 crore and minimum turnover required to be achieved for the incentive is Rs 600 crore; and Part-2, where minimum investment is of Rs 100 crore and minimum turnover required to be achieved for the incentive is Rs 200 crore,” the release said.
Government-approved PLI scheme for textiles products, namely MMF Apparel, MMF Fabrics and Products of Technical Textiles, for enhancing India’s manufacturing capabilities and enhance exports. In a bid to further boost the growth of the sector, centre also removed the import duty of cotton.
The notification for the scheme was issued on September 24. Operational Guidelines for PLI scheme were issued on December 28. Applications under PLI scheme for textiles were received through web portal from January to February.