NE BUSINESS BUREAU
NEW DELHI, OCT 23
The Ministry of Textiles on Friday informed that it has issued the notification for setting up of 7 Mega Integrated Textile Region and Apparel (PM MITRA) Parks. It was announced in Union Budget for 2021-22.
The scheme aims to realise the vision of Prime Minister Narendra Modi of building an Aatmanirbhar Bharat and to position India strongly on the Global textiles map, the ministry said.
Govt. notifies setting up of 7 Mega Integrated Textile Region & Apparel (PM MITRA) Parks.
In line with PM @NarendraModi ji’s 5F Vision ― Farm to Fabric to Factory to Fashion to Foreign, this will create an integrated value chain & reduce logistics cost.https://t.co/lBCPCMwAaR pic.twitter.com/ZJfCd3m39A
— Piyush Goyal (मोदी का परिवार) (@PiyushGoyal) October 22, 2021
PM MITRA Parks is envisaged to help India in achieving the United Nations Sustainable Development Goal 9 (“Build resilient infrastructure, promote sustainable industrialization and foster innovation”).
- Envisaged to help India in achieving the United Nations Sustainable Development Goal 9: “Build resilient infrastructure, promote sustainable industrialization and foster innovation”.
- Inspired by the 5F vision of Prime Minister – Farm to Fibre to Factory to Fashion to Foreign
- World-class industrial infrastructure would attract cutting age technology and boost FDI and local investment in the sector
- PM MITRA Parks will offer an opportunity to create an integrated textiles value chain right from spinning, weaving, processing/dyeing and printing to garment manufacturing at 1 location
- Integrated Textile Value chain at 1 location will reduce logistics cost of Industry
- Intended to generate ~1 lakh direct and2 lakh indirect employment per park
- Sites for PM MITRA Parks will be selected by a Challenge Me
The initiative is inspired by the 5F vision of Prime Minister Modi. The ‘5F’ Formula encompasses – Farm to fibre; fibre to factory; factory to fashion; fashion to foreign.
“This integrated vision will help furthering the growth of textile sector in the economy. No other competing nation has a complete textile ecosystem like us. India is strong in all five Fs,” it said.
The scheme is to develop integrated large scale and modern industrial infrastructure facility for entire value-chain of the textile industry. It will reduce logistics costs and improve competitiveness of Indian Textiles.
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The scheme will help India in attracting investments, boosting employment generation and position itself strongly in the global textile market. These parks are envisaged to be located at sites which have inherent strength for Textile Industry to flourish and have necessary linkages to succeed.
The PM MITRA Parks will be setup at Greenfield/Brownfield sites located in different willing states. Proposals of state governments having ready availability of contiguous and encumbrance-free land parcel of 1,000+ acres along with other textiles related facilities and ecosystem are welcome.
“For a Greenfield PM MITRA park, the GOI Development Capital Support will be 30% of the Project Cost, with a cap of Rs 500 Cr. For Brownfield sites, after assessment, Development Capital Support @30% of project cost of balance infrastructure and other support facilities to be developed and restricted to a limit of Rs 200 Crore. State Government supports will include provision of 1,000 Acre land for development of a world class industrial estate,” the ministry said.
Competitiveness Incentive Support (CIS) of Rs 300 crore will also be provided to each PM MITRA park for early establishment of textiles manufacturing units in PM MITRA Park. Such support is crucial for a new project under establishment which has not been able to break even and needs support till it is able to scale up production and be able to establish its viability, it added.
The Notification is available on the Ministry’s web-site: http://texmin.nic.in
