PM MITRA: Centre Issues Notification To Set Up 7 Mega Textile Parks - Odisha Bytes

PM MITRA: Centre Issues Notification To Set Up 7 Mega Textile Parks

New Delhi: The Ministry of Textiles has issued the notification for setting up 7 Prime Minister’s Mega Integrated Textile Region and Apparel (PM MITRA) parks as announced in the Union Budget for 2021-22 and approved by the Centre.

As per the notification, the PM PM MITRA parks will be setup at Greenfield/Brownfield sites located in different states. The state governments having land parcel of over 1,000 acre along with other textiles related facilities and ecosystem can submit their proposals.

For a Greenfield parks, the Centre will provide 30% capital support of the project cost, with a cap of ₹500 crore. For Brownfield sites, it would be 30% of balance infrastructure and other support facilities with a limit of Rs 200 crore. Competitiveness Incentive Support (CIS) of ₹300 crore will also be provided to each park.

PM MITRA park will be developed by a Special Purpose Vehicle which will be owned by the states and the Centre in a Public Private Partnership (PPP) mode. The Master Developer will not only develop the park but also maintain it during the concession period. The Master Developer will be selected on the basis of objective criteria developed jointly by the state and Central governments.

The scheme is expected to attract investments, boost employment generation and position India strongly in the global textile market. These parks are envisaged to be located at sites which have inherent strength for textile industry to flourish and necessary linkages to succeed.

PM MITRA park is envisaged to help India achieve the United Nations Sustainable Development Goal 9 of “Build resilient infrastructure, promote sustainable industrialisation and foster innovation”.

The notification is available on the Ministry’s web-site http://texmin.nic.in,

Also Read: PM MITRA Parks: Odisha To Hold Meet Of Textile Industry Captains To Prepare Proposal