|
|
|
7 mega textile parks to come up, Centre approves scheme
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 06 Oct, 2021
To give a boost to the employment intensive textile sector, the Union
Cabinet on Wednesday approved the setting up of seven mega integrated
region and apparel (PM MITRA) parks.
Accordingly, these seven parks have been allotted a total outlay of Rs 4,445 crore for a period of five years.
Besides, these parks will be set up at greenfield or brownfield sites located in different states.
Subsequently,
the Centre has invited proposals from state governments having ready
availability of contiguous and encumbrance-free land parcel of more than
1,000 acres along with other textiles related facilities and ecosystem.
Under
the scheme, a 'Maximum Development Capital Support' (DCS) of Rs 500
crore to all 'Greenfield PM MITRA' and a maximum of Rs 200 crore to
'Brownfield PM MITRA' will be provided for development of 'Common
Infrastructure'.
Furthermore, Rs 300 crore of Competitiveness
Incentive Support (CIS) will also be provided to each PM MITRA park for
early establishment of textiles manufacturing units.
"State Government support will include provision of 1,000 acre land for development of a world class industrial estate."
As
per the Cabinet's communique, PM MITRA will develop 50 per cent area
for pure 'Manufacturing Activity', 20 per cent area for utilities, and
10 per cent area for commercial development.
"PM MITRA park will
be developed by a 'Special Purpose Vehicle' which will be owned by State
Government and Government of India in a Public Private Partnership
(PPP) mode."
"The 'Master Developer' will not only develop the
'Industrial Park' but also maintain it during the concession period.
Selection of this Master Developer will happen based on objective
criteria developed jointly by State and Central Governments."
Additionally,
the SPV in which the state government has a majority ownership will be
entitled to receive part of the lease rental from developed industrial
sites and will be able to use that for further expansion of textiles
industry in the area by expanding the 'PM MITRA' park, providing skill
development initiatives and other welfare measures for workers.
On its part, the industry welcomed the Cabinet's approval for the scheme.
According
to Apparel Export Promotion Council (AEPC) Chairman A. Sakthivel: "It
will attract massive foreign and domestic investment in the sector
making it globally competitive while helping create lakhs of jobs."
"These
steps will help India regain its dominant position in textiles. I am
confident that the textiles sector will increase its annual exports to
over $100 billion in the next few years. The sector, which is the second
largest employment generator in the country, alone will play a major
role in realising Aatmanirbhar Bharat."
In addition,
Confederation of Indian Textile Industry's Chairman T. Rajkumar said the
'PM MITRA' is another landmark decision to empower the 'Indian Textile
& Apparel' (T&A) industry.
He said that 'PM MITRA' will
attract huge investment in the Indian T&A Industry and is likely to
generate 7 lakhs direct and 14 lakhs indirect employment opportunities.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|