The introduction of seven integrated textile parks under the PM Mega Integrated Textile Region and Apparel Parks (MITRA) project has been well received by the textile sector.
According to T. Rajkumar, chairman of the Confederation of Indian Textile Industry (CITI), the PM MITRA parks are a project to increase the cost competitiveness of the Indian textile sector and are anticipated to produce about 20 lakh jobs with close to 70,000 crore in investment over the following three years.
The global textile supply chain is realigning itself as a result of some geopolitical concerns, with businesses trying to set up their manufacturing base outside of China as well. The world-class infrastructure built at the parks would increase foreign direct investment in the parks, helping the Central Government achieve its goal of making India a sought-after travel destination.
The household The textile industry is currently very fragmented, and the logistical costs associated with moving textile raw materials from one State to another contribute significantly to the total cost of production. According to him, the proposed parks in the seven States will present a chance to establish an integrated textile value chain that includes spinning, weaving, processing/dying, printing, and garment production all in one place, hence lowering logistical costs.
Sunil Patwari, chairman of the Cotton Textiles Export Promotion Council, claims that the parks will speed up exports along the entire textile value chain in addition to attracting substantial investments.
The PM MITRA plan will also Reassure the investors that single window approvals are available and that decisions will be made quickly, he said.
