Textile Ministry issues notification for setting up seven PM MITRA Parks
Textiles Ministry has issued notification for setting up of seven PM MITRA Parks. The scheme is aimed at realising the vision of Prime Minister Narendra Modi of building an Aatmanirbhar Bharat and to position India strongly on the Global textiles map.
PM MITRA is inspired by the 5F vision of Prime Minister. The ‘5F’ Formula encompasses – Farm to fibre; fibre to factory; factory to fashion; fashion to foreign. This integrated vision will help furthering the growth of textile sector in the economy.
The scheme is to develop integrated large scale and modern industrial infrastructure facility for entire value-chain of the textile industry. It will reduce logistics costs and improve competitiveness of Indian Textiles. The scheme will help India in attracting investments, boosting employment generation and position itself strongly in the global textile market. These parks are envisaged to be located at sites which have inherent strength for Textile Industry to flourish and have necessary linkages to succeed.
The seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks will be setup at Greenfield or Brownfield sites located in different willing States. For a Greenfield PM MITRA park, the Union Development Capital Support will be thirty per cent of the Project Cost, with a cap of 500 Cr rupees and for Brownfield sites 30 per cent of project cost of balance infrastructure and restricted to a limit of 200 crore rupees.