Mega Investment MoUs Ignite Textile Industry Growth Under PM MITRA Scheme

Over Rs 18,500 crore in investment MoUs were signed under the PM MITRA park scheme, highlighting ambitious infrastructure projects and initiatives aimed at boosting India's textile sector. Seven PM MITRA parks are set to be developed across India, poised to attract significant investment while generating large-scale employment opportunities.

Ambitious investment proposals exceeding Rs 18,500 crore have been signed as part of the PM Mega Integrated Textile Region and Apparel (PM MITRA) park initiative, Union Textiles Minister Giriraj Singh told the Lok Sabha on Tuesday. A tender for infrastructure development at the Amravati, Maharashtra site, valued at Rs 111 crore, has already been finalized.

The central government is implementing a variety of schemes to spur growth in the textile sector, including the Scheme for Integrated Textile Park (SITP), Integrated Processing Development Scheme (IPDS), and the Production Linked Incentive (PLI) Scheme. These efforts aim to foster extensive, modern industrial infrastructure essential for the textile sector's growth.

A total of seven PM MITRA parks will be developed at key locations such as Tamil Nadu, Telangana, Gujarat, and Maharashtra, designed to attract around Rs 10,000 crore in investments and generate approximately 3 lakh jobs each. The scheme's financial outlay spans from 2021-22 to 2027-28, focusing on creating a state-of-the-art industrial ecosystem.

(With inputs from agencies.)