: Govt extends timeline for submitting applications under textile PLI scheme #finance #StockMarketNEWS Govt extends timeline for submitting applications under textile PLI scheme New Delhi, Jan 29 (KNN)

Govt extends timeline for submitting applications under textile PLI scheme #finance #StockMarketNEWS
Govt extends timeline for submitting applications under textile PLI scheme New Delhi, Jan 29 (KNN) The textile ministry on Friday announced that it has extended the last date for submission of online application under the Production Linked Incentive (PLI) scheme for textiles till 14 February.

Ministry said that it has given time to companies to submit their applications under the PLI scheme. Earlier the date for submission of online applications under the scheme was up to 31 January, which has now been extended till 14 February, 2022.

The government released the operational guidelines of the scheme last month. Under the scheme, incentives worth Rs 10,683 crore will be provided over five years for manufacturing of man-made fabric (MMF), garments–jerseys, overcoats, trousers, polyester suitings, shirtings, among others– and technical textiles.

The scheme got the Cabinet’s approval in September and is focused on expanding MMFs and technical textiles segments’ value chain to help India regain its dominant status in global textiles trade, at a time when Indias share of global exports has gradually declined over the last few years. The scheme is operational from 24 September 2021 to 31 March 2030.

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