PM Mitra parks to come up in 7 states
March 18, 2023, Updated on : Sat Mar 18 2023 05:38:02 GMT+0000
The Government of India has announced the sites for setting up of 7 PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks for the textile industry in the states of Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, and Maharashtra.
In a twitter thread tweeted by PM Modi, he said that these mega textile parks will boost the sector in line with the 5F vision of farm to fibre to factory to fashion to foreign. He also said that these mega textile parks will provide state-of-the-art infrastructure for the textiles sector, attract investment of crores, and create lakhs of jobs. It will be a great example of 'Make in India' and 'Make For the World,' he said.
Nearly Rs 70,000 crore investment and 20 lakh job creation is envisaged through these parks.
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.
The seven sites were chosen out of 18 proposals for PM MITRA parks, which were received from 13 states. Eligible states and sites were evaluated using a transparent challenge method based on objective criteria, taking into account a variety of factors such as connectivity, existing ecosystem, textile/industry policy, infrastructure, utility services, etc. The PM Gati Shakti - National Master Plan for multi-modal connectivity was also used for validation.
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 of up to Rs 500 crore per park. A Competitive Incentive Support (CIS) of up to 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.
The state governments will provide contiguous and encumbrance-free land parcel of at least 1,000 acres, and will also facilitate the provision of all utilities, reliable power supply, water availability and waste water disposal system, an effective single window clearance as well as a conducive and stable industrial/textile policy.
The parks will offer excellent infrastructure, plug and play facilities, as well as training and research facilities for the industry.
Edited by Megha Reddy