Cabinet clears ₹4,445-cr. textile parks

Stitching livelihoods: The seven parks are expected to generate seven lakh direct jobs and provide indirect jobs to nearly 14 lakh people   | Photo Credit: BIJOY GHOSH

The Union Cabinet on Wednesday approved the setting up of seven Mega Integrated Textile Region and Apparel (PM MITRA) Parks at an outlay of ₹4,445 crore.

The mega parks scheme will include brownfield and greenfield projects, spread over five years, said Textiles Minister Piyush Goyal.

The parks would be developed by a Special Purpose Vehicle (SPV) owned by the Central and State governments and would get two kinds of support. Development Capital Support, aimed at helping develop infrastructure, would fund 30% of the project cost with a cap of ₹500 crore for greenfield projects and ₹200 crore for brownfield projects. A separate Competitiveness Incentive Support would be limited to ₹300 crore per park.

‘TN, Gujarat interested’

As many as 10 States including Tamil Nadu, Telangana and Gujarat had already shown interest, Textiles Secretary Upendra Prasad Singh told The Hindu. States offering the cheapest land (contiguous and encumbrance-free land of minimum 1,000 acres) and facilities such as adequate electricity and water would be selected through a transparent challenge route.

The SPV would select a Master Developer to set up and maintain the park for a specified period. Of the park’s area, 50% would be earmarked for manufacturing activity, 20% for utilities, and 10% set aside for commercial development.

The parks are expected to generate 7 lakh direct jobs and provide indirect jobs to almost 14 lakh people.

Mr. Singh said industries in the parks would comprise four categories — units investing ₹300 crore or more, units investing ₹100-300 crore, investors of less than ₹100 crore and tenant units.

Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Jan 19, 2022 9:55:18 PM |

Next Story