बलजीत सिंह शेखावत
Bhilwara | The Union Ministry of Textiles has reopened the application portal for Round 4 of the Production Linked Incentive (PLI) scheme.
This initiative aims to make the country's textile sector globally competitive.
Textile PLI Scheme Round 4 Portal Reopened
The Ministry of Textiles has reopened the PLI scheme Round 4 portal with relaxed investment and turnover norms, extending the scheme up to 2033-34.
+Follow us
Follow thinQ360 on Google
HIGHLIGHTS
- Ministry of Textiles reopened PLI Scheme Round 4 portal effective November 1.
- Minimum investment cut to 50 crore and minimum turnover to 100 crore rupees.
- percent incentive in the first year, tapering to 7 percent in the fifth year.
- Scheme extended to 2033-34; 28 new HSN codes being added to the framework.
Related News
The application portal has become effective from November 1.
Relaxations for MSME and Medium Units
The central government has tailored the scheme for MSMEs and medium textile units by cutting required thresholds.
The minimum investment requirement has now been reduced to 50 crore rupees.
The mandatory turnover requirement has been halved from 200 crore to 100 crore rupees.
Related News
Incentive Structure and Gestation Period
An incentive of 11 percent will be provided on incremental turnover in the first year.
This incentive will decrease by one percent each year, reaching 7 percent in the fifth year.
The scheme has a gestation period of one and a half years and is extended up to 2033-34.
National Webinar by Textile Ministry
A special national webinar was organized on Sunday by the Ministry of Textiles with leading industry bodies.
Related News
Joint Secretary Manisha Chatterjee gave comprehensive details about the revised framework.
Mewar Chamber of Commerce and Industry was the sole industrial organization representing Rajasthan in the webinar.
Provisions for Existing Applicants and HSN Codes
Investments made in Phase 1 to Phase 3 will be recognized subject to specified terms.
Existing applicants will be permitted to migrate into the new phase.
On the industry's demand, 28 new HSN codes are being included, with gazette notifications expected in 7 to 10 days.
Units that previously submitted applications can add these codes to their projects at a later stage.
Boost for Rajasthan Textile Centers
The scheme is primarily targeted towards Manmade Fiber (MMF) and Technical Textiles.
Launched on September 21, 2021, the relaxed provisions will aid textile hubs in Rajasthan.
Textile units in Bhilwara, Jodhpur, Pali, and Balotra are expected to benefit significantly.
*Edit with Google AI Studio
