- GS 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
- Government has approved the setting up of 7 PM MITRA parks to give a boost to textiles sector in our country.
- A few months ago, Government initiated PLI scheme for textiles.
- PM MITRA (Mega Integrated Textile Region and Apparel) scheme was first announced in Union Budget for 2021-22.
- It is inspired by the 5F vision: Farm to Fibre to Factory to Fashion to Foreign
- This integrated vision will help furthering the growth of textile sector in the economy.
- The 7 PM MITRA parks will be setup at Greenfield / Brownfield sites located in different willing States.
- PM MITRA Park will be developed by a Special Purpose Vehicle which will be owned by State Government and Government of India in a Public Private Partnership (PPP) Mode.
- PM MITRA scheme has been launched with a total outlay of 4,445 crores in a period of 5 years.
- 300 Crores of Competitiveness Incentive Support (CIS) will also be provided to each PM MITRA Park for early establishment of textiles manufacturing units in PM MITRA.
- It will be in a form of viability gap funding to make the project attractive for participation of private sector.
- State Government supports will include provision of 1,000 Acre land for development of a world class industrial estate.
PM MITRA Park components
For Greenfield Project
- Maximum Development Capital Support (DCS) of Rs. 500 crores will be provided for development of common infrastructure to all Greenfield PM MITRA Parks.
- Development Capital Support will be 30% of the Project Cost, with a cap of Rs. 500 Crores.
- Maximum Development Capital Support (DCS) of Rs. 200 crores will be provided for development of common infrastructure to all Brownfield PM MITRA Parks.
- For Brownfield sites, after assessment, Development Capital Support will be 30% of project cost of balance infrastructure and it will be restricted to a limit of Rs. 200 Crore.
PM MITRA will have
- Core Infrastructure: Incubation Centre and Plug & Play facility, Developed Factory Sites, Roads, Power, Water and Waste Water system, and other related facilities.
- Support Infrastructure: Workers’ hostels & housing, logistics park, warehousing, medical, training & skill development facilities.
PM MITRA benefits
- The Parks will enhance the competitiveness of the textiles industry.
- It will help the industry achieve economies of scale.
- It will create huge job opportunities for millions of people.
- The scheme will help Indian companies to emerge as global champions.