Government Likely to Revise PLI Scheme for Manmade Fibre Textiles
The Union Ministry of Textiles is expected to announce a revised Production Linked Incentive (PLI) scheme for the textile sector, specifically focusing on manmade fibre (MMF) and technical textiles. The revisions aim to make the scheme more flexible and industry-friendly. Proposed changes include adding new HSN codes for MMF apparel and fabrics and lowering investment thresholds. For instance, investment criteria may be revised to ₹150 crore and ₹50 crore for different parts of the scheme. These changes are intended to attract investments from Micro, Small, and Medium Enterprises (MSMEs) and boost growth in the sector.
Key Points
- The PLI scheme for textiles is being updated to include more products under MMF and technical textiles categories.
- Lowering investment thresholds to ₹50 crore and ₹150 crore will help MSMEs participate in the scheme.
- The goal is to enhance India's competitiveness in the global textile market and drive growth in MMF.
- The scheme will include eight new HSN codes for MMF apparel and nine for MMF fabrics.
Exam Facts
- Investment criteria revised to ₹150 crore and ₹50 crore
- 10% incremental turnover required
- Focus on MMF (Manmade Fibre) and Technical Textiles
- Production Linked Incentive (PLI) Scheme
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