Centre approves setting up of 7 mega integrated textile parks with a total outlay of Rs. 4,445 crore

Centre approves setting up of 7 mega integrated textile parks with a total outlay of Rs. 4,445 crore

Hummingbird News Desk

NEW DELHI, 6 OCT: With a view to bring India on the global textile map and to give boost to the employment intensive textile sector, the Government has approved the setting up of seven mega integrated region and apparel (PM MITRA) parks as announced in union budget for 2021-22. 

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These seven parks will be setup at Greenfield or Brownfield sites located in different willing states. The Center has invited proposals from State Governments having ready availability of contiguous and encumbrance-free land parcel of 1,000+ acres along with other textiles related facilities and ecosystem.

Accordingly, these seven parks have been allotted a total outlay of Rs 4,445 crore for a period of five years.

Under the scheme, a ‘Maximum Development Capital Support’ (DCS) of Rs 500 crore to all ‘Greenfield PM MITRA’ and a maximum of Rs 200 crore to ‘Brownfield PM MITRA’ will be provided for development of ‘Common Infrastructure’.

Furthermore, Rs 300 crore of Competitiveness Incentive Support (CIS) will also be provided to each PM MITRA park for early establishment of textiles manufacturing units.

“State Government support will include provision of 1,000 acre land for development of a world class industrial estate.”

As per the communique, PM MITRA will develop 50 per cent area for pure ‘Manufacturing Activity’, 20 per cent area for utilities, and 10 per cent area for commercial development.

“PM MITRA park will be developed by a ‘Special Purpose Vehicle’ which will be owned by State Government and Government of India in a Public Private Partnership (PPP) mode.”

“The ‘Master Developer’ will not only develop the ‘Industrial Park’ but also maintain it during the concession period. Selection of this Master Developer will happen based on objective criteria developed jointly by State and Central Governments.”

According to the Cabinet, the SPV in which the state government has majority ownership will be entitled to receive part of the lease rental from developed industrial sites and will be able to use that for further expansion of textiles industry in the area by expanding the ‘PM MITRA’ park, providing skill development initiatives and other welfare measures for workers.

Tags: #PMMITRA #TextilePark #Centre #MegaIntegratedTextileParks

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