What’s in news?
According to Union Minister of Textiles Piyush Goyal, the Ministry of Textiles will soon identify the States designated for implementation of Prime Minister MITRA (Mega Integrated Textile Region and Apparel) program.
- In collaboration with willing State Governments, the Government of India intends to establish 7 (seven) PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks in Greenfield/Brownfield locations.
- A Brownfield site is any land that has already been developed. A Greenfield site is at the opposite extreme of the spectrum, referring to undeveloped land.
- The Plan will result in the development of a contemporary, integrated large-scale, world-class industrial infrastructure, including plug-and-play facilities, with a budget of 4,445 crores for the years 2021-22 to 2027-28.
- PM MITRA Parks is intended to assist India in meeting UN Sustainable Development Goal 9 (“Build resilient infrastructure, promote sustainable industrialization and foster innovation”).
- The plan is to build an integrated large-scale and contemporary industrial infrastructure facility for the whole textile value chain.
- It will lower logistical costs and boost Indian textiles’ competitiveness.
- These parks are intended to be positioned in areas that have the natural strength for the textile industry to thrive and the essential links to succeed.
- PM MITRA Park will be built using a Master Developer (MD) model based on a Public Private Partnership (PPP) in a Design-Build-Finance-Operate-Transfer (DBFOT) structure. Other models, such as a Government SPV-led model or a hybrid model with minimal private developer participation, can be explored in exceptional circumstances with the approval of the Government of India.
- The PM MITRA parks will give the ideal ecosystem for the textile sector to be collectively present in one area, with plug-and-play infrastructure.
- It will boost the textile value chain’s competitiveness.
- It will also help the Prime Minister’s five-F vision (farm, fibre, factory, fashion, and foreign).
- The initiative will assist India in attracting investments, increasing job creation, and establishing a strong position in the global textile industry.
Vision for 2030:
- To reach an economic value of $250 billion in production and $100 billion in exports of textiles, clothing, and allied items.