So far 69 companies have registered for the Production Linked Incentive (PLI) scheme of Ministry of Textiles (MoT) and out of this 42 companies have filed their draft application, while 8 companies have filed their final ones.
With the outlay of Rs. 10,683 crore, PLI scheme for textiles covers 40 MMF (man-made fibre) garment items, 14 MMF fabric items and 10 technical textile items.
Leading newspaper business line quoted Textiles Secretary Upendra Prasad Singh that the response from investors has been good so far with a substantial number of registrations and draft applications already been made.
MoT expect numbers to increase as the deadline (14 February) for applying for the scheme nears.
The Ministry may be able to select 50-60 companies for the scheme, but the actual number would be tied to the size of the proposals coming in.
As this is a fund limited scheme, the number of beneficiaries would depend on how big the companies are and what kind of projections they make. It may be possible that the available fund gets exhausted with 20-25 companies, or it may be possible to accommodate 60-70 companies.
Upendra Prasad Singh said the applications that have been made so far are a mixture of big companies and smaller companies.
He said, “If we are in a situation that we need to select amongst the applicants, we will go by the selection criteria mentioned in the guidelines and also scrutinise the projections made by the companies to see if they are feasible,” the Secretary said.
