Govt grants Rs 4.4k crore for 7 textile parks – Times of India

NEW DELHI: The union Cabinet on Wednesday cleared a Rs 4,445-crore scheme to arrange seven mega built-in textile area and attire parks (MITRA), every unfold over 1,000 acres, in a transfer geared toward creating massive textile services to tackle international competitors.
The plan is to arrange the parks on a greenfield and brownfield foundation, with every costing round Rs 1,700 crore and the Centre offering as much as Rs 200-500 crore improvement help for infrastructure creation.
As well as, there might be an “early fowl” incentive of Rs 300 crore, as much as 3% of a unit’s turnover, for establishing a facility in one of many seven MITRAs. The PM MITRA parks had been introduced within the Price range and the funding is to be offered over 5 years.
Textiles minister Piyush Goyal stated that 10 states — Tamil Nadu, Punjab, Odisha, Andhra Pradesh, Gujarat, Rajasthan, Assam, Madhya Pradesh, and Telangana — have evinced curiosity in establishing these parks, that are anticipated to instantly generate round seven lakh jobs.
Whereas the parks might be awarded as per “problem” methodology, the federal government will quickly announce standards akin to connectivity to ports, energy and water availability, the presence of the textile eco-system in a state in addition to the implementation of labour legal guidelines, textiles secretary Upendra Pratap Singh stated.

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