Union Textile Minister Piyush Goyal on Wednesday, October 6 announced the Union Cabinet’s decision to approve PM Mega Integrated Textile Region and Apparel (MITRA) park scheme which was first announced as a proposal in the Union Budget 2021.
In a media briefing to give updates on the decisions of the cabinet, it was stated that the government has approved the scheme to set up seven integrated textile parks in the country to create world-class infrastructure and boost the textile Industry’s global reach.
“The move is inspired by the 5F vision of Prime Minister Narendra Modi — Farm to Fibre to Factory to Fashion to Foreign,” said Piyush Goyal while announcing the cabinet’s decision. The PM-MITRA scheme envisions to enable the textile industry to become globally competitive, draw large domestic and foreign direct investments, promote employment generation in the country and increase textile exports.
As part of the scheme, the Centre will provide Rs. 4,445 crores over a period of 5 years to develop MITRA parks in a public-private partnership model through a special purpose vehicle which will be owned by the state and central government. The parks will be set up at various greenfield and brownfield sites for which the Centre will provide a capital of Rs. 500 crores and Rs. 200 crores respectively, in the states drawn by the PM-MITRA scheme.
According to Goyal, around ten states have already shown keen interest in the scheme till now and are in talks with the Centre to follow up on the same. He also stated that the PM-MITRA scheme will lead to the creation of direct employment for 7 lack individuals and indirect employment for 14 lakh individuals.
