The ₹13,040 crore PM MITRA Parks project aims to boost India’s textile sector and attract ₹27,000 crore in investments, strengthening manufacturing and exports.
The estimated project cost to set up the seven PM Mega Integrated Textile Region and Apparel (MITRA) Parks is Rs 13,040 crore, an official said, adding that so far, investment MoUs with expected investment potential of over Rs 27,434 crore have been signed.
The seven parks are at Tamil Nadu (Virudhnagar), Telangana (Warangal), Gujarat (Navsari), Karnataka (Kalaburagi), Madhya Pradesh (Dhar), Uttar Pradesh (Lucknow) and Maharashtra (Amravati). The estimated project cost for the park in Madhya Pradesh is Rs 2,063 crore and Tamil Nadu is Rs 1,894 crore.
“Post approval of sites by the government, infrastructure works worth Rs 2,590.99 crore for providing infrastructure till the park gates have been started by all seven State governments,” said an official, adding that 100% land acquired and handed over to SPV.
The PM MITRA Parks are envisaged as modern, large scale and integrated parks covering the entire value chain, including spinning, weaving, processing, printing, garment and accessories manufacturing, aimed to reduce logistics costs and improve competitiveness of Indian textiles. The scheme will help India in attracting investments, boosting employment generation and position itself strongly in the global textile market.
As per the textile ministry, detailed project report worth Rs 7,024 crore has been approved for PM MITRA Park in Madhya Pradesh, Tamil Nadu, Telangana and Maharashtra. Overall, the external infrastructure works worth Rs 1,861.24 crore is approved for road connectivity, water and power supply till the park gates while the expenditure incurred on these external works so far is Rs 564.72 crore.
The PMI Mitra Scheme is intended to create a modern, integrated, large-scale, world-class industrial infrastructure including, plug and play facilities with a budgetary outlay of Rs.4,445 crore for a period 2021-22 to 2027-28.
News Courtesy : The Economic Times