Centre receives 17 proposals from States to set up mega textile park under PM MITRA scheme

New Delhi, May 6 (KNN) On receiving proposals from 17 States to set up mega textile park under the PM Mega Integrated Textile Region and Apparel (PM MITRA) scheme.

The Ministry of Textiles has said that availability of master real estate developer will be important for approval.

Authorization to set up mega textile parks will be given to only seven States under the Rs 4,445 crore worth scheme earmarked upto 2027-28.

Speaking on the further progress of the project, Union textiles secretary Upendra Prasad Singh has said that the government will prefer private master developers that will be ready to bear 70 per cent of the cost cost incurred in developing an integrated value chain in a mega textile park.

Singh explained that a mega developer would be a real estate player rather than a textile player and government will give invest 30 per cent in establishing the Mega Park.

Among the states that have shown interest are Tamil Nadu, Punjab, Odisha, Andhra Pradesh, Gujarat, Rajasthan, Assam, Madhya Pradesh, and Telangana.

The PM-MITRA scheme was first announced in Union Budget 2021 with the aim of making the textile industry globally competitive.

Finance Minister Nirmala Sitharaman had said the scheme will create world-class infrastructure with plug-and-play facilities and spawn global champions in exports. (KNN Bureau)