India News | Modi Govt to Set Up 7 Mega Textile Parks, Generate over 20 Lakh Jobs

New Delhi [India], April 7 (ANI): Going big on the textile industry, and under the 'Make in India' effort, the government has planned to set up seven mega textile parks under PM Mega Integrated Textile Regions and Apparel (PM MITRA) scheme.

These parks will be set up in seven states namely; Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, Madhya Pradesh and Uttar Pradesh.

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Prime Minister Narendra Modi said in a tweet, "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 October 2021, and the parks will be set up by 2026-27. The total outlay for the project is Rs 4,445 crore, though the initial allocation in the 2023-24 Budget is only Rs 200 crore.

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"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 crore into these parks, with employment generation for about 20 lakh people, Union Minister Piyush Goyal said.

Goyal said, "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".

The BJP leader also said that environmental clearances would also be eased under the scheme.

Textiles Secretary Rachna Shah said that the Ministry had selected the locations for the parks in a transparent manner, having considered 18 proposals from 13 states.

The eligibility of the states and sites was evaluated using a transparent challenge. It was based on objective criteria, taking into account a variety of factors such as connectivity, the existing ecosystem, textiles, industry policy, infrastructure, utility services, etc. PM Gati Shakti- National Master Plan for Multi-modal Connectivity--was also used for validation.

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. Through these parks, an expenditure of almost 70,000 crores of rupees and the creation of 20 lakh jobs are anticipated.

"An SPV [Special Purpose Vehicle] owned by the 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 crores per park to the Park SPV," the Ministry said.

The Ministry added in the statement, "A Competitive Incentive Support (CIS) upto Rs 300 crores per park to the units in PM MITRA Park shall also be provided to incentivise speedy implementation. Convergence with other Government of India schemes shall also be facilitated in order to ensure additional incentives to the Master Developer and investor units". (ANI)

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