Global leadership capacity will increase.
Textile Export Promotion Council (AEPC) Chairman A Sakthivel said that setting up of seven Mega Integrated Textile Region and Apparel (MITRA) Parks in the country will attract both foreign and domestic investment in the sector and make it globally competitive. will gain help in. He said on Thursday that Mitra will help India regain its global leadership position in the textile industry.
It is worth mentioning that the Union Cabinet on October 6 approved the setting up of seven Mega Integrated Textile Regions and Apparel Parks with a total outlay of Rs 4,445 crore for five years with an aim to place India firmly on the global textile map. “This will attract massive foreign and domestic investment in this sector, which will help in creating lakhs of jobs,” Sakthivel said. He said these steps would help boost exports and take it to over $100 billion in the next few years.
7 investment parks to be set up
Under the Mitra scheme, 7 Mega Investment Textile Parks will be set up across the country. About Rs 4500 crore will be spent on the textile mega park. This will bring a big revolution in the field of textile and manufacturing. Piyush Goyal said that the government has taken seven major decisions to promote exports in the textile industry. Six of these decisions have already been taken. The cabinet has now also approved the Mitra scheme.
1700 crore cost of one park
10 states have shown interest for 7 textile parks. When this park is ready, 7 lakh direct and 14 lakh indirect jobs will be created. About Rs 1700 crore will be spent in preparing a park. This park will be spread over 1000 acres.
Parks will be built in greenfield and brownfield areas
Piyush Goyal said that these textile parks will be built in greenfield and brownfield areas of the state. 500 crores will be given to Greenfield MITRA Parks and 200 crores to Brownfield MITRA Parks. The workers working here will also get proper benefits of all social security.
Many big decisions regarding textile
The central government has taken two major decisions regarding textiles in the last few months. The first is about PLI. According to the notification of the Ministry of Textiles, registered manufacturing companies in India can take advantage of Production Linked Incentive (PLI) of Rs 10,683 crore in the textile sector.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.