The textiles ministry is aiming to notify production linked incentive (PLI) scheme for MMF (man-made fibre) and technical textile sectors within a week, and issue detailed guidelines by the end of the current month, a top government official said on Wednesday.
Textiles Secretary UP Singh also said that the ministry has undertaken a comprehensive consultation with all the concerned stakeholders before finalising the scheme.
“There will be good takers of the scheme. We are targeting to notify the scheme within a week. And by September-end, we will be issuing the detailed guidelines,” Singh told PTI.
A portal is being developed for implementing the scheme, which aims at boosting domestic manufacturing and creating a world-class facility for the sector, he added.
“Tentatively, we are thinking of opening the window for the industry to apply for the scheme from November 1 to December 31. Everything will be online, like submitting applications, approval process and disbursal of incentives,” Singh said. Talking about the importance of MMF and technical textiles, he said the government is targeting to increase textiles exports to USD 44 billion this fiscal and USD 100 billion in the next five years.
There is also an aim to increase the size of the industry from USD 140 billion to USD 250 billion in the coming years, “so this growth will come not only from cotton but from MMF and technical textiles,” he added.
The Union Cabinet on Wednesday approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for the textiles sector.The Cabinet has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/ products of technical textiles.