Govt issues notification for setting up of seven mega integrated textile region & apparel parks
Textiles ministry today said, PM MITRA Parks is envisaged to help India in achieving the United Nations Sustainable Development Goal of build resilient infrastructure, promote sustainable industrialization and foster innovation.
The Ministry has issued the Notification for setting up of seven PM MITRA Parks. 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.
PM MITRA is inspired by the 5F vision of Prime Minister. 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.
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.
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 seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks will be setup at Greenfield or Brownfield sites located in different willing States.
For a Greenfield PM MITRA park, the Union Development Capital Support will be thirty per cent of the Project Cost, with a cap of 500 Cr rupees and for Brownfield sites 30 per cent of project cost of balance infrastructure and restricted to a limit of 200 crore rupees.
PM MITRA park will be developed by a Special Purpose Vehicle which will be owned by State Government and Government of India in a Public Private Partnership (PPP) Mode.
The Master Developer will not only develop the Industrial Park but also maintain it during the concession period. The Notification is available on the Ministry’s web-site: http://texmin.nic.in