PM MITRA Parks
About
- The Government of India is setting up PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks to boost the textiles sector.
- The Parks will come up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra.
Significance
- PM MITRA would provide an opportunity to develop an integrated textiles value chain at one place, starting with spinning, weaving, processing/dyeing, printing, and garment manufacture.
- It would lead to the creation of 20 lakh jobs.
- The initiative is also aimed at helping India to achieve the United Nations Sustainable Development Goal 9: “Build resilient infrastructure, promote sustainable industrialization and foster innovation”.
Implementation
- Special purpose vehicles, with a 51% equity shareholding of the State government and 49% of the Centre, will be formed for each park.
- The State governments will provide the land, be part of the SPV, and give the required clearances.
- The Central government will disburse Development Capital Fund of ₹500 crore in two tranches for each of the seven facilities. This is for the creation of core and support infrastructure.
- It will also give a Competitive Incentive Support of ₹300 crore per park to be provided to the manufacturing units.
Why in News?
- Union Minister of Textiles Giriraj Singh said that PM-MITRA parks, with an investment of ₹70,000 crore of investment, are expected to create 21 lakh jobs.
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