What’s in the news?
- The Government has approved setting up of 7 (Seven) PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks in Greenfield/Brownfield sites with world class infrastructure including plug and play facility with an outlay of Rs. 4,445 cr for a period of seven years upto 2027-28.
- The Government has finalised 7 sites viz. Tamil Nadu (Virudhnagar), Telangana (Warangal), Gujarat (Navsari), Karnataka (Kalburgi), Madhya Pradesh (Dhar), Uttar Pradesh (Lucknow/Hardoi) and Maharastra (Amrawati) for setting up PM MITRA Parks.
- 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.
- The core infrastructure of PM MITRA parks will include, among other things, an incubation centre and plug-and-play facility, developed factory sites, roads, power, water, and waste-water systems, a typical processing house, a common effluent treatment plant (CETP), and other related facilities such as a design centre and testing centres. Workers’ hostels and accommodation, a logistics park, warehousing, medical, training, and skill development facilities will also be available.
- The parks would be developed by a Special Purpose Vehicle (SPV) owned by the Central and State governments and would get two kinds of support.
- Development Capital Support, aimed at helping develop infrastructure, would fund 30% of the project cost with a cap of ₹500 crore for greenfield projects and ₹200 crore for brownfield projects.
- A separate Competitiveness Incentive Support would be limited to ₹300 crore per park.
- Note: With greenfield investing, a company will build its own, brand new facilities from the ground up. Brownfield investment happens when a company purchases or leases an existing facility.
- The parks are expected to generate 7 lakh direct jobs and provide indirect jobs to almost 14 lakh people.