- Ministry of Textiles has issued a notification to set up 7 Mega Integrated Textile Region and Apparel (PM MITRA) Parks with a total outlay of Rs. 4,445 crore. These are aimed at helping India to achieve the United Nations Sustainable Development Goal 9: “Build resilient infrastructure, promote sustainable industrialization and foster innovation”.
- It is hoped that the PM MITRA Parks will have world-class industrial infrastructure which would attract cutting age technology and boost FDI and local investment in the textiles sector.
- Inspired by the 5F vision of the Hon’ble Prime Minister (i.e. Farm to Fibre to Factory to Fashion to Foreign), the PM MITRA Parks are a major step forward in realising the Government’s vision of making 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.
- These 7 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.
- PM Gati Shakti- National Master Plan for Multi-modal Connectivity was also used for validation.
- PM MITRA Parks 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.
Implementation:–
- Special Purpose Vehicle:– An SPV owned by the Centre and State Government will be set up for each park which will oversee the implementation of the project.
- Development Capital Support:– 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.
- Competitive Incentive Support (CIS):– A 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 Schemes:– Convergence with other Government of India schemes shall also be facilitated in order to ensure additional incentives to the Master Developer and investor units.