Cabinet Approves Setting Up Of 7 Mega Textile Parks, Allocates ₹4,445 Cr For 5 Years
Mumbai: The Cabinet on Wednesday approved the setting up of seven Mega Integrated Textile Region and Apparel (PM MITRA) Parks with an outlay of ₹4,445 crores for the next five years.
Giving information about the cabinet decision, Union Commerce and Industry Minister Piyush Goyal said on Wednesday that seven mega Integrated Textile Region and Apparel (PM Mitra) parks will be set up at greenfield or brownfield sites located in different states.
“A maximum Development Capital Assistance (DCS) of Rs 500 crore will be provided to all greenfield PM Mitras and Rs 200 crore (at 30 per cent of the project cost) and Rs 300 crore for common infrastructure development to brownfield PM Mitras. PM Mitra Competitiveness Promotion Assistance (CIS) will also be provided to each PM Mitra Park for speedy setting up of textile manufacturing units in the state. State Government supports will include the provision of 1,000-acre land for the development of a world-class industrial estate,” said Goyal.
The Minister said PM MITRA is inspired by the 5F vision of Prime Minister Modi.
“The ‘5F’ Formula encompasses – farm to fibre; fibre to factory; factory to fashion; fashion to foreign. This integrated vision will help to further the growth of the textile sector in the economy. No other competing nation has a complete textile ecosystem like us. India is strong in all five Fs,” he said.
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According to an official release, “For Greenfield PM Mitra Park, the development capital assistance of the Government of India will be 30 per cent of the project cost with a limit of Rs 500 crore. For brownfield sites, after appraisal, the development capital support will be the remaining infrastructure and other support facilities to be developed at 30 per cent of the project cost and limited to a limit of Rs 200 crore.”
“This is in a form of viability gap funding to make the project attractive for the participation of the private sector,” the release said.
According to an official release, the core infrastructure of PM Mitra Park will include an incubation centre and plug and play facility, developed factory sites, roads, electricity, water and wastewater systems, common processing houses and other related facilities like CETP and design. Centres, Testing Centers, Others. It will also have support infrastructures like workers hostel and housing, logistics park, warehousing, medical, training and skill development facilities.
“PM MITRA will develop 50 per cent area for pure manufacturing activity, 20 per cent area for utilities, and 10 per cent of the area for commercial development,” it added.
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