The programme intends to make the Hon’ble Prime Minister Shri Narendra Modi’s goal of creating an Aatmanirbhar Bharat a reality and to solidify India’s position on the world textiles map.
In order to help India meet Sustainable Development Goal 9 (to “Construct resilient infrastructure, encourage sustainable industrialisation, and foster innovation”), PM MITRA Parks is planned.
PM MITRA is motivated by the Hon. Prime Minister’s 5F vision. Farm to Fiber, Fiber to Factory, Factory to Fashion, and Fashion to Foreign are all included in the “5F” Formula. The textile industry’s economic growth will be aided by this holistic viewpoint. We have a whole textile ecosystem, unlike any rival country. India excels in each of the five Fs.
Industrial infrastructure facility for the textile industry’s whole value chain. It will lower logistics expenses and raise Indian textiles’ level of competitiveness. The programme will assist India in luring investments, increasing employment creation, and solidifying its place in the world textile market. These parks are planned to be built in areas that are naturally strong for the textile industry and have the connections it needs to succeed.
Greenfield and Brownfield locations in various willing States will host the 7 PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks. State governments with ready access to contiguous, unencumbered land parcels of 1,000 acres or more, together with other textiles-related infrastructure and ecosystems, are welcome to submit proposals.
GOI Development Capital Assistance for a Greenfield PM MITRA park will be capped at $500 million and at 30% of the project cost. Development Capital Assistance @30% of Project Cost for Balance Infrastructure and Other Support Facilities to be Developed and Limited to a Limit of Rs. 200 Crore for Brownfield Sites after Assessment. Support from the state government will include the donation of 1,000 acres of land for the construction of a top-notch industrial estate.
Also, each PM MITRA park will receive competitiveness incentive support (CIS) of 300 crores to encourage the early creation of textile manufacturing facilities there. Such support is essential for a newly established project that hasn’t been able to break even and needs assistance until it can increase production and prove its viability. In a Public Private Partnership (PPP) mode, a Special Purpose Entity that will be controlled by the State Government and the Government of India would create PM MITRA Park. The Industrial Park will be developed and maintained by the Master Developer throughout the concession period. This Master Developer will be chosen in accordance with impartial standards created in collaboration by the State and Central Governments.
SPV in which State Government has majority ownership will be entitled to receive part of the lease rental from developed industrial sites and will be able to use that for further expansion of textiles industry in the area by expanding the PM MITRA Park, providing Skill Development initiatives and other Welfare measures for workers.
Combining efforts with other Central Government Those who meet the eligibility requirements can participate in state government programmes. This will increase the textile industry’s competitiveness by assisting it in realising economies of scale and will open up a tonne of work opportunities for millions of people. Using economies of scale, the programme will assist Indian businesses in becoming global leaders.
