About 12 textile companies are set to receive the first set of incentive payment under the production-linked incentive (PLI) scheme.
“Around 40 companies have grounded investment. We had a gestation period till March 2024. We hope this financial year 10-12 companies will be getting incentive payout (under PLI),” a senior government official said on Friday.
The scheme was launched in 2021 to boost the domestic manufacturing of man-made fabric (MMF), garments and technical textiles, with a budgetary outlay of ₹10,683 crore. The scheme, however, received a lukewarm response from private players.
The development is significant, considering that earlier this year a Cabinet secretary-led committee had also flagged the “shortfall” in progress in investment during 2023-24 in three, including textiles, of the 14 PLI sectors.
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