New Delhi [India]ANI, April 8, 2008: India is focusing its efforts on the textile sector and Make in India, and has announced plans to create seven mega-textile parks under the PM Mega Integrated Textile Regions and Apparel Scheme (PM MITRA).
These parks will come up in seven states — Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, Madhya Pradesh and Uttar Pradesh.
Indian Prime Minister Narendra Modi in a tweet stated that the parks would “provide state-of-the-art infrastructure for the textiles sector, attract investment of crores and create lakhs of jobs”. The scheme was announced in Oct 2021 and will be implemented by 2026-2027.
The project will cost Rs 4,445 crore. However, the initial allocation of Rs 200 crore in the Budget 2023-24 is less than that.
“PM MITRA mega textile parks will boost the textiles sector in line with 5F (Farm to Fibre to Factory to Fashion to Foreign) vision,” PM Modi tweeted.
The Centre envisages an investment of nearly Rs 70,000 crores into these parks, with employment generation for about 20 lakh people, India’s Textiles Minister Piyush Goyal said.
According to The Hindu, the parks will be able to serve as centers of opportunity to create an integrated textiles value-chain, from spinning, weaving to dyeing and printing to garment production, at one location.
“The textile industry has been unorganised in the country. This increased wastage and logistical costs impacted the competitiveness of the country’s textile sector. This cluster-based approach, a vision of the Prime Minister, will solve several problems of the sector,” Goyal said.
He said that the scheme would also make it easier to obtain environmental clearances.
Rachna Sharma, Secretary Textiles, said that the Ministry had made the selections for the parks transparently after reviewing 18 proposals from 13 countries.
A transparent challenge was used to determine the eligibility of states and sites. It was based upon objective criteria that took into account many factors, including connectivity, the existing ecosystem and textiles, as well as industry policy, infrastructure, utilities services, and so forth.
PM Gati Shakti- National Master Plan for Multi-modal Connectivity–was also used for validation, reported PM MITRA Parks represents a distinctive model in which the Central and State Governments will collaborate to boost investment, foster innovation, create job opportunities, and eventually turn India into a major hub for textile production and exports.
The creation of 20k jobs and an investment of almost 70,000 crores in rupees is possible through these parks.
“An SPV [Special Purpose Vehicle] Each park will have its own state government and Centre. They will supervise the implementation of the project.
The Ministry of Textiles will provide financial support in the form of Development Capital Support upto Rs 500 crore per park to the Park SPV,” the Ministry said. Incentives for speedy implementation will include Competitive Incentive Supp (CIS) up to Rs 300 Cr per unit in PM MITRA Park. To provide additional incentives for Master, convergence with other Government of India schemes will also be encouraged.
Developer and investor units” added the statement.
Goyal claimed that all the utilities will be provided by the State governments, including power and water. Goyal stated that an initial investment of Rs200 crores has been made.
“Different elements to make all the approvals easier will be considered. We will encourage the use of renewable energy in a big way in these parks,” Goyal said, adding that the parks would offer excellent infrastructure, plug-and-play facilities as well as training and research facilities for the industry, reported The Hindu. (ANI)
This report is automatically generated from ANI’s news service. ThePrint is not responsible for the content.