Government has approved setting up of 7 (Seven) PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks.
The scheme is under the Textiles Ministry.
Components of the Scheme:
PM MITRA parks will be established by a special purpose vehicle, owned by the state governments and the Centre in a public-private partnership (PPP) model.
This is in a form of viability gap funding to make the project attractive for the participation of the private sector.
The parks will have 50% area for manufacturing activity, 20% for utilities, and 10% area for commercial development.
The textile parks will include an incubation centre and plug-and-play facility, developed factory sites, roads, power, water, and waste-water system, common processing house and CETP, and other related facilities like design centre, testing centre, among others. The parks will also have workers’ hostels and housing, logistics park, warehousing, medical, training and skill development facilities.
Capital Support:
An additional Rs 300 crore will be provided as Competitiveness Incentive Support for the early establishment of textiles manufacturing units in each of these parks.
Investors who set up “anchor plants” that employ at least 100 people will be eligible for incentives of upto Rs 10 crore every year for upto three years.
PM MITRA benefits
The Parks will enhance the competitivenessof the textiles industry.
It will help the industry achieve economies of scale.
It will create huge job opportunitiesfor millions of people.
The scheme will help Indian companies to emerge as global champions.
