Indian govt announces sites for 7 Mega textile parks
The government of India today announced the sites for setting up seven 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.
Prime Minister Narendra Modi remarked that the PM MITRA mega textile parks will provide state-of-the-art infrastructure for the textiles sector, attract investment of crores and create lakhs of jobs.
These seven sites were chosen out of 18 proposals for PM MITRA parks which were received from 13 states, the ministry of textiles said in a press release.
The project will help in creating world-class industrial infrastructure that would attract large scale investment including foreign direct investment (FDI) and encourage innovation and job creation within the sector. An SPV owned by centre and state government will oversee the implementation of the project. The central government will provide financial support in the form of Development Capital Support up to ₹500 crore for each park. A Competitive Incentive Support (CIS) up to ₹300 crore will be provided to the units in each park. Concerned state government will provide land of at least 1,000 acres and other facilities like conducive atmosphere, power, water supply etc.
Nearly ₹70,000 crore investment and 20 lakhs employment generation are envisaged through these parks.
“PM MITRA mega textile parks will boost the textiles sector in line with 5F (Farm to Fibre to Factory to Fashion to Foreign) vision. Glad to share that PM MITRA mega textile parks would be set up in Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, MP and UP,” PM Modi said in a tweet.
Fibre2Fashion News Desk (KUL)