Govt likely to finalise PLI scheme for garments by early next year

The central government is expected to finalise a production linked incentive (PLI) scheme for garments, madeups and home textiles early next year with an aim to promote small and medium units, an official said on Wednesday.

The government has already announced a PLI scheme for man-made fibre garments and technical textiles.

Now there are talks going on for the second edition of the scheme for the sector.

The official said that discussions are on for PLI 2.0 where investment thresholds could be lower than the previous one for technical textiles and man-made fibre.

“We encouraged capital and machinery in the first edition of PLI, but this time we are looking at small and medium entities,” the official added.

In the first round, 32 firms have begun investments worth Rs 1,500 crore. The textiles ministry had approved 64 applications under the Rs 19,798-crore scheme.

PLI 2.0 for the textile sector is under consideremation as the textiles ministry has an unutilised budget.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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