With the 5F vision (i.e., Farm to Fibre to Factory to Fashion to Foreign) of Shri Narendra Modiji, Hon’ble Prime Minister of India, the Government announced 7 PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks for the Textile industry in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra.
Shri Dhiraj Raichand Shah, Chairman, SRTEPC welcomes the PM MITRA Parks initiative of the government and thanks Shri Narendra Modiji, Hon’ble Prime Minister of India, for strengthening the Indian Textiles sector with the PM MITRA Parks. Shri Dhiraj Raichand Shah also thanked Shri Piyush Goyalji, Hon’ble Union Minister of Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution for his untiring efforts and engagements in formulating schemes like the PM MITRA Parks for further strengthening the textile industry.
SRTEPC Chairman mentioned that the PM MITRA Parks will encourage more investment, provide plug & play infrastructure, and generate more employment in India. On the export front, the PM MITRA Parks will enhance the competitiveness of our textile exports by helping it achieve economies of scale and maintain international quality. It will also attract global players to manufacture textiles in India making India a global hub for textile manufacturing and exports, Shri Dhiraj Raichand Shah added.
The Ministry of Textiles will oversee the execution of these projects. An SPV owned by Centre and State Government will be set up for each park which will oversee the implementation of the project. The Ministry of Textiles will provide financial support in the form of Development Capital Support upto Rs. 500 crore per park to the Park SPV. A Competitive Incentive Support (CIS) upto Rs 300 crore per park to the units in PM MITRA Park shall also be provided to incentivise speedy implementation. Convergence with other GOI schemes shall also be facilitated in order to ensure additional incentives to the Master Developer and investor units.
State governments will provide contiguous and encumbrance-free land parcel of at least 1000 acres of land and will also facilitate provision of all utilities, Reliable Power Supply and Water availability and Wastewater Disposal system, an effective single window clearance as well as a conducive and stable industrial/textile policy.
PM MITRA Parks represent a unique model where the Centre and State Governments will work together to increase investment, promote innovation, create job opportunities and ultimately make India a global hub for textile manufacturing and exports. Nearly Rs. 70,000 crores investment and 20 lakhs employment generation is envisaged through these parks.
PM MITRA Parks will substantially synergize the Indian Textile Industry and will help in positioning India as a leading global textile manufacturing and exporting hub, SRTEPC Chairman informed.