Prime Minister Narendra Modi on Friday declared that PM MITRA mega textile parks would be set up in Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, Madhya Pradesh and Uttar Pradesh to boost the textiles sector in line with 5F (Farm to Fibre to Factory to Fashion to Foreign) vision.
In a tweet, the PM said; ”The PM MITRA mega textile parks will provide state-of-the-art infrastructure for the textiles sector, attract investment of crores and create lakhs of jobs. It will be a great example of ‘Make in India’ and ‘Make For the World.’ #PragatiKaPMMitra”.
Earlier, the Textiles Ministry announced the sites for setting up the parks. ”It is expected that these parks will enhance the competitiveness of the textiles industry by helping it achieve economies of scale as well as attract global players to manufacture in India,” the ministry said.
These seven sites were chosen out of 18 proposals for PM MITRA parks which were received from 13 states. Eligible states and sites were evaluated using a transparent challenge method based on objective criteria taking into account a variety of factors such as connectivity, existing ecosystem, textile/industry policy, infrastructure, utility services etc. The PM Gati Shakti- National Master Plan for Multi-modal Connectivity was also used for validation.
PM MITRA Parks will help in creating world-class industrial infrastructure that would attract large-scale investment, including foreign direct investment (FDI), and encourage innovation and job creation within the sector.
The Textiles Ministry will oversee the execution of these projects. An SPV owned by the Centre and the concerned state government will be set up for each park which will oversee the implementation of the project.
The Textiles Ministry will provide financial support in the form of Development Capital Support up to Rs. 500 crores per park to the Park SPV. A Competitive Incentive Support (CIS) of up to Rs 300 crores per park to the units in PM MITRA Park shall also be provided to incentivise speedy implementation. Convergence with other government schemes shall also be facilitated in order to ensure additional incentives to the master developer and investor units.
The parks will offer excellent infrastructure, plug-and-play facilities as well as training and research facilities for the industry.
PM MITRA Parks represent a unique model where the Centre and state governments will work together to increase investment, promote innovation, create job opportunities and ultimately make India a global hub for textile manufacturing and exports. Nearly Rs. 70,000 crores investment and 20 lakhs employment generation are envisaged through these parks.