Prime Minister Narendra Modi announced on Friday that 'PM MITRA mega textile parks' will be set up in the seven states and asserted that they will attract massive investments and create lakhs of jobs
Union Minister Piyush Goyal on Friday said seven mega textile parks will be set up in Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, Madhya Pradesh and Uttar Pradesh under the Rs 4,445 crore PM MITRA scheme. The parks will create 20 lakh direct and indirect employment opportunities and attract an estimated Rs 70,000 crore of domestic and foreign investment for setting up state-of-the-art infrastructure.
Prime Minister Narendra Modi announced on Friday that 'PM MITRA mega textile parks' will be set up in the seven states and asserted that they will attract massive investments and create lakhs of jobs. The parks are being created in line with the Prime Minister's 5F (Farm to Fibre to Factory to Fashion to Foreign) vision, Goyal said.
The PM MITRA scheme will also help the country achieve the target of USD 100 billion worth of textile exports from India by 2030. Addressing a press conference here, Goyal said: "We want Champions of global scale to be created in India. Through this world- class integrated facility we will be able to integrate India into global value chains." The minister explained that due to this being a centrally sponsored scheme, a special purpose vehicle will be formed by the Centre and state governments concerned.
"A Master Developer will be appointed for all these parks. Thereafter, we will provide 3-4 kinds of support to the parks. New parks will be provided up to Rs 500 crore as development capital support, whereas brownfield parks will be given Rs 200 crore. Apart from this, competitive incentive support of up to Rs 300 crore whereby new anchor investors will be given 3 per cent of turnover," the minister said.
In a Facebook post, Goyal said these mega textile parks will be set up with an outlay of Rs 4,445 crore and this would be the biggest ever initiative for infrastructure in this sector. These parks will create 20 lakh direct/indirect jobs and attract an estimated Rs 70,000 crore of domestic and foreign investment, he added. Goyal further said they will be shining examples of sustainability, with zero liquid discharge, common effluent treatment, use of emission-free renewable energy and adoption of global best practices.
Meanwhile, in a series of tweets, Goyal also described the announcement by the Prime Minister as "India's big leap towards becoming a global textiles hub."Industry experts have welcomed the announcement. Kulin Lalbhai, Chairman, CII National Committee on Textiles and Apparel termed the move a remarkable decision for the Indian textile industry.
"The PM MITRA mega textile parks will significantly boost the textile sector in line with the 5F vision. These parks will aid the Indian textile industry to leverage economies of scale, provide state- of- the art infrastructure, attract large investments and create lakhs of jobs," he added. Naren Goenka, Chairman AEPC stated, “PM MITRA will re-establish India's dominance as a global textiles leader. I am sure that these mega textiles parks with world-class facilities and integrated value chain will create global champions by enhancing apparel exports exponentially and creating massive employment opportunities to the tune of 20 lakh.”