In a significant move to bolster the Indian textile industry, the government has given the green light for the establishment of seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks. These parks, to be set up in both Greenfield and Brownfield sites, will boast world-class infrastructure, including plug-and-play facilities, with a total outlay of Rs. 4,445 crore.
Objective of PM MITRA Scheme
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The primary objectives of the scheme are to enhance the scale of operations, reduce logistics costs by consolidating the entire value chain in one location, attract investments, create employment opportunities, and bolster the export potential of the industry.
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The PM MITRA Parks aim to develop integrated, large-scale, and modern industrial infrastructure facilities covering the entire value chain of the textile industry. This includes spinning, weaving, processing, garmenting, as well as the textile manufacturing, processing, and printing machinery industry. The ambitious initiative anticipates an estimated investment of nearly Rs. 70,000 crore in these Mega Parks.
After receiving 18 proposals from 13 different states, the government has finalized the selection of seven sites for the PM MITRA Parks. These locations include Virudhnagar in Tamil Nadu, Warangal in Telangana, Navsari in Gujarat, Kalaburagi in Karnataka, Dhar in Madhya Pradesh, Lucknow in Uttar Pradesh, and Amravati in Maharashtra.
Significant progress has already been made in the formation of Special Purpose Vehicles (SPVs) in Uttar Pradesh and Gujarat. The SPV formation process in Madhya Pradesh and Tamil Nadu is at an advanced stage of incorporation, while the initiation of the SPV formation process is underway in other states.
This strategic initiative underscores the government's commitment to enhancing the competitiveness of the Indian textile sector on the global stage.
