The Government of India (GoI) on March 17 announced the sites for setting up of 7 PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks for the Textile industry.
- The Parks will come up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra.
- Inspired by the 5F vision of the Prime Minister (i.e. Farm to Fibre to Factory to Fashion to Foreign), the PM MITRA Parks will make India a global hub for textile manufacturing and exports.
- It is expected that these parks will enhance the competitiveness of the textiles industry by helping it achieve economies of scale as well as attract global players to manufacture in India.
PM MITRA Parks-Salient features
The Ministry of Textiles will oversee the execution of these projects.
- An SPV owned by Centre and State Government will be set up for each park which will oversee 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.
- A Competitive Incentive Support (CIS) upto Rs 300 crore per park to the units in PM MITRA Park shall also be provided to incentivise speedy implementation.
- Convergence with other GOI schemes shall also be facilitated in order to ensure additional incentives to the Master Developer and investor units.
- State governments will provide contiguous and encumbrance-free land parcel of at least 1000 acres of land and will also facilitate provision of all utilities, Reliable Power Supply and Water availability and Waste Water Disposal system, an effective single window clearance as well as a conducive and stable industrial/textile policy.
