The Indian government, in collaboration with state counterparts, is establishing Special Purpose Vehicles (SPVs) to oversee the development of seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) parks across the country. This initiative aims to position India as a global textile hub. Speaking at a recent media briefing, Textiles Secretary Rachna Shah disclosed that each park is projected to generate nearly 300,000 job opportunities. Additionally, an investment of approximately ₹10,000 crore will be injected into each park, emphasising cutting-edge technology and ease of doing business.
The PM MITRA parks, to be built through a Public-Private Partnership (PPP) model, will boast world-class infrastructure and plug-and-play facilities. Furthermore, the parks will significantly contribute to the Production-Linked Incentive (PLI) scheme for textiles. Shah informed that 64 companies have enrolled in the scheme, with 30 firms making notable progress and expected to commence production this year. Over a span of five years, the PLI scheme is anticipated to attract fresh investments exceeding ₹19,000 crore, achieve a cumulative turnover surpassing ₹3 lakh crore, and create an additional 750,000 jobs in the industry, along with several more in supporting activities.
Shah also conveyed details regarding Bharat Tex 2024, a global textile expo scheduled to take place in New Delhi from February 26-29. The event is set to witness over 3,500 exhibitors and more than 3,000 international buyers, providing an excellent platform to showcase India as a global sourcing and investment destination. The textile expo will bring together stakeholders from the entire value chain, including government and industry representatives.
