The Indian Ministry of Textiles has announced the operational guidelines for PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks scheme. PM MITRA scheme is expected to strengthen the Indian textile industry by way of enabling scale of operations, reduce logistics cost by housing entire value chain at one location, attract investment, generate employment and augment export potential.
The scheme will develop integrated large scale and modern industrial infrastructure facility for total value-chain of the textile industry for example, spinning, weaving, processing, garmenting, textile manufacturing, processing and printing machinery industry. These parks are envisaged to be located at sites which have inherent strengths for textile industry to flourish and have necessary linkages to succeed. The scheme envisages to leverage Public Private Partnership model for fast paced implementation in a time-bound manner.
PM MITRA Parks will be set up on the basis of proposals received from state governments having ready availability of contiguous and encumbrance-free land parcel of minimum 1000 acres. The state government will transfer land to the Special Purpose Vehicle (SPV) at notional price. The land asset will be used to leverage/attract investment in the PM MITRA parks for development and maintenance of the parks with high standard specifications. SPV will be a legal entity (with 51 per cent equity shareholding of state government and 49 per cent of central government) set up by the state government for the purpose of implementing the PM MITRA Park Project, the ministry said in the guidelines.
The Indian Ministry of Textiles has announced the operational guidelines for PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks Scheme. The Ministry launched PM MITRAs Scheme to strengthen the Indian textile industry by way of enabling scale of operations and reduce logistics cost by housing entire value chain at one location.
The scheme has a budget outlay of ₹4,445 crore including administrative expenses of ₹30 crore over 7-year period up to 2027-28.
Click here for complete operational guidelines.
Fibre2Fashion News Desk (KD)