GOI Approves Rs 4,445 Crore For 7 Mega Textile Parks To Boost Industry
The Government of India has granted approval for the establishment of 7 PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks in greenfield/brownfield sites, allocating a budget of Rs 4,445 crore. The primary objective of this initiative is to fortify the Indian textile industry by facilitating larger-scale operations, minimizing logistics costs through the consolidation of the entire value chain in one location, attracting investments, generating employment and enhancing export capabilities. The scheme aims to create comprehensive and contemporary industrial infrastructure, covering the entire value chain of the textile industry, including spinning, weaving, processing, garmenting and the manufacturing of textile machinery.
A total investment of approximately Rs 70,000 crore is anticipated for these mega parks. Out of the 18 proposals received from 13 states, including one from Rajasthan, the government has finalized 7 sites: Tamil Nadu (Virudhnagar), Telangana (Warangal), Gujarat (Navsari), Karnataka (Kalaburagi), Madhya Pradesh (Dhar), Uttar Pradesh (Lucknow), and Maharashtra (Amravati).
The Special Purpose Vehicle (SPV) has been established in the states of Uttar Pradesh and Gujarat, while the SPV formation process in Madhya Pradesh and Tamil Nadu is in an advanced stage. Initiatives to form SPVs in other states are underway.
