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Industry Specific - Textiles Central Ministry of Textiles Handlooms (Reservation of Articles for Production) Act, 1985

Ministry of Textile issues notification regarding amendment in the Operational Guidelines for Production Linked Incentive Scheme for textile

12-Nov-2024 | No. 12014/09/2024-MMF

Ministry of Textile via notification dated 12th November 2024 has issued amendments to the Operational Guidelines for Production Linked Incentive (PLI) Scheme for textile manufacturing in India. The operational guidelines were issued on 28th December 2021 with respect for production of MMF Apparel, MMF Fabrics and Technical Textiles Products manufactured in India. The operational guidelines were issued to further the implementation of the PLI Scheme notified by the Ministry of Textiles dated 24th September 2021.
By virtue of the amendment, the following new clauses have been introduced to the guidelines:
1. Clause 18.2.1 has been introduced to state the following, ?A Participant Company(ies) may opt to submit a provisional claim for disbursement of incentive on quarterly, half yearly or annual basis in which the eligibility criteria for the year under consideration has been met. For Investment/ Sales, the applicant should submit Statutory Auditor certified Fixed asset register & Audited/ Provisional Financial Statement?.
2. Clause 18.2.2 has been inserted to state the following, ?In case of Provisional claim, the Participant Company (ies) will provide Bank Guarantee (BG) equivalent to incentive amount as per scheme guidelines. Validity of the BG is for 1 year?.

Further, many other such clauses have been introduced.

For more details, please refer to the document attached hereby.

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