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New Delhi , July 25

THE Cabinet Committee on Economic Affairs on Monday approved the scheme for Integrated Textile Parks to set up to 25 parks for exports across the country at an estimated cost of Rs 625 crore spread over this year and the next.

The scheme will create 25 textile parks with an international infrastructure to house approximately 1,250 textile units, which would lead to a substantial increase in textile exports. It will facilitate private investment of Rs 18,500 crore in to the sector and will help create five lakh jobs.

Each park will provide modern infrastructure for locating at least 50 textile units. The location of the projects will be identified after a demand and potentiality study by a professional agency. Projects will be need-based and the proposed parks will cover the weaving, knitting, processing and garmenting sectors.

The new scheme is the result of a merger of the earlier two schemes.

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