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The Indian textiles ministry issued a notification recently to set up seven PM MITRA parks as announced in the budget for fiscal 2021-22. The Mega Integrated Textile Region and Apparel (MITRA) scheme aims to develop integrated large scale and modern industrial infrastructure facility for the entire value-chain of the textile industry.
The seven parks will be set up at greenfield and brownfield sites located in different willing states. The notification welcomed proposals from state governments having ready availability of land along with other textiles-related facilities and ecosystem, according to an official release.
The parks will reduce logistics costs and improve competitiveness of Indian textiles. These parks are envisaged to be located at sites that have inherent strength for the textile industry to flourish and have necessary linkages to succeed.
The Indian textiles ministry issued a notification recently to set up seven PM MITRA parks as announced in the budget for fiscal 2021-22. The Mega Integrated Textile Region and Apparel (MITRA) scheme aims to develop integrated large scale and modern industrial infrastructure facility for the entire value-chain of the Indian textile industry.
For a greenfield PM MITRA park, the government will offer a development capital support of 30 per cent of the project cost, with a cap of ₹500 crore. For brownfield sites, the same would be 30 per cent of the project cost of balance infrastructure and other support facilities to be developed and restricted to a limit of ₹200 crore.
Every PM MITRA park will be developed by a special purpose vehicle co-owned by the state government and the central government in a public-private partnership (PPP) mode.
Fibre2Fashion News Desk (DS)
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