The Indian Union government is offering tax advantages to investors who establish massive textile parks with plug-and-play facilities covering more than 1,000 acres each across India. The state would grant land for the project, according to UP Singh, Textile Secretary. The move will assist India by providing it with “scale” in the textile and clothing value chain. It would also complement the newly authorised Rs 10,638 crore production-linked incentive (PLI) programme for the man-made fibre and technological textiles industries, according to Singh.
The parks will be positioned near ports and will include a variety of textile and garment firms, as well as integrated facilities, in order to develop a healthy eco-system. The Center will make two payments after roughly 60 percent and 100 percent of the work is completed, respectively. Investors will be responsible for the upkeep of these parks and other related amenities in addition to building. They will manage the park for the next 25-30 years and will be able to charge fees to businesses who locate there. Because of the higher level of synergy among its resident enterprises, these megaparks will attract foreign customers by offering a varied range of products and catering to bicyclists.
