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.
