Govt Approves Seven PM MITRA Parks with Rs. 4,445 Cr Investment to Boost Textile Sector

The initiative aims to create world-class infrastructure with plug-and-play facilities, enhancing the textile sector's competitiveness and boosting local economies.

The Government of India has given the green light for the establishment of seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks across the country. These parks will be set up in both Greenfield and Brownfield sites with a significant investment of Rs. 4,445 crores over the next seven years, up to 2027-28. The initiative aims to create world-class infrastructure with plug-and-play facilities, enhancing the textile sector's competitiveness and boosting local economies.

Approved Sites for PM MITRA Parks:

Tamil Nadu - Virudhunagar

Telangana - Warangal

Gujarat - Navsari

Karnataka - Kalaburagi

Madhya Pradesh - Dhar

Uttar Pradesh - Lucknow

Maharashtra - Amravati

Key Highlights:

Investment and Economic Impact: Each park is expected to attract an investment of approximately Rs. 10,000 crores, encompassing both foreign and domestic investments. This initiative is projected to significantly benefit the local economy and the textile ecosystem.

Special Purpose Vehicles (SPVs): SPVs have been established for the five Greenfield sites—Gujarat, Tamil Nadu, Karnataka, Madhya Pradesh, and Uttar Pradesh. For the two Brownfield sites—Maharashtra and Telangana—the existing implementation arrangements will continue as per the guidelines.

Financial Support:

Development Capital Support (DCS): For Greenfield PM MITRA Parks, the government will provide support covering 30% of the project cost, up to Rs. 500 crore per park. For Brownfield PM MITRA Parks, the support will be up to Rs. 200 crore per park.

Competitive Incentive Support (CIS): To encourage early setup of manufacturing units within the parks, the scheme includes a Competitive Incentive Support of up to Rs. 300 crore per park, adhering to the scheme guidelines.

The announcement was made by Union Minister of State for Textiles, Shri Pabitra Margherita, in a written reply in the Rajya Sabha today. The PM MITRA Parks are expected to play a crucial role in revitalizing the textile industry, creating job opportunities, and fostering economic development in the regions where they are established.