He added that the turnover achieved through trade and contract labor will not be taken into account when calculating claims to qualify for the incentive.
The products manufactured by the company registered under the scheme will only be eligible for incentives, the addition of products manufactured by other manufacturers or units of the same group company will not be taken into account in the calculation of the additional turnover.
“Only manufacturing companies registered in India will be eligible to participate in the program,” the notification said.
Incentives under the program will be available for five years from 2025-26 to 2029-30 on incremental turnover achieved from 2024-25 to 2028-29 with a budget expenditure of Rs 10,683 crore.
However, if a company is able to meet investment and performance targets one year earlier, it will become eligible one year in advance from 2024-25 to 2028-2029, he added. .
The program proposes to encourage MMF garments (artificial fibers), MMF fabrics and 10 segments of technical textile products.
In addition, he said that only one company in a group will be allowed to register for the PLI for textiles and that none of the other companies in the group will be eligible to participate in this program as a second participant.
“However, the group may present more than one application for consideration, but it will have to make a decision at the time of selection regarding which proposal it wishes to advance in the event that more than one of its proposals is pre-selected on the basis a transparent selection process, ”he added.