India’s Ministry of Textiles has rolled out fresh changes to its production‑linked incentive (PLI) scheme, which now covers man‑made fibre (MMF) apparel, MMF fabrics and technical textiles. The updates aim to cut entry barriers, boost investments, and drive the country toward its 2030 goal of a $350 billion textile industry with $100 billion in exports.
What’s new in the PLI scheme?
- More product classes – Eight new HSN codes join MMF apparel, and nine new codes are added for MMF fabrics.
- Easier project launch – Companies can set up project units inside existing firms rather than starting a new company.
- Lower investment thresholds – From August 1, the minimum spend drops to ₹150 crore for Part‑1 projects and ₹50 crore for Part‑2 projects.
- Growth metric added – Starting FY 2025‑26, firms must show at least a 10 % rise in turnover from the previous year to qualify.
These tweaks should speed up approvals and reduce costs, letting more players join India’s textile growth story.
Call to Action
The Ministry has kept the application portal open until December 31, encouraging firms to apply now and benefit from the relaxed rules. “We want to accelerate execution and lower financial barriers,” the government said.
Looking Ahead: Sustainability Goals
Textiles Minister Giriraj Singh highlighted that India’s textile plans also target carbon neutrality. He urged the industry to manage water, electricity, and soil better, especially for the country’s rain‑fed cotton growers. Despite India’s massive cotton acreage—about 40 % of global production—yield lags behind other nations at 450 kg per hectare versus 2,000 kg per hectare on average. The Mission for Cotton Productivity is under review to close this gap.
By blending incentives, lower entry costs, and a focus on green practices, the government hopes to cement India’s position as a global textile hub by 2030.
Source: ianslive
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