Comments
The Textiles Ministry has issued the notification for setting up of seven PM Mega Integrated Textile Region and Apparel (PM MITRA) parks with a total outlay of ₹4,445 crore to be disbursed over five years specifying that these will be set up at both greenfield (not earlier been built on) and brownfield (which has been built on) sites located in different willing States.
“Proposals of States having ready availability of contiguous and encumbrance-free land parcel of 1,000+ acres along with other textiles related facilities & ecosystem are welcome,” according to an official release issued by the Textile Ministry on Friday.
For a greenfield PM MITRA park, the Centre’s development capital support will be 30 per cent of the project cost, with a cap of ₹500 crore. For brownfield sites, after assessment, development capital support of 30 per cent of project cost of balance infrastructure and other support facilities to be developed will be extended. The limit has been set at ₹ 200 crore.
Also read: Cabinet approves setting up of 7 PM MITRA Parks with outlay of ₹4,445 crore
State government support will include provision of 1,000 acre land for developing a world class industrial estate, the release stated.
The Centre will also offer a competitiveness incentive support of ₹300 crore to each PM MITRA park for early establishment of textiles manufacturing units. “Such support is crucial for a new project under establishment which has not been able to break even and needs support till it is able to scale up production and be able to establish its viability,” the release stated.
The PM MITRA scheme, approved by the Cabinet earlier this month, seeks to develop integrated large scale and modern industrial infrastructure facility for the entire value-chain of the textile industry. The objective is to reduce logistics costs and improve competitiveness of Indian textiles.
“The scheme will help India in attracting investments, boosting employment generation and positioning 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 release added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.