Union Government Initiates PM MITRA Parks for Textile Sector Expansion
The Union government is collaborating with states to establish seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) parks in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, and Maharashtra. Special purpose vehicles (SPVs) are being formed for this purpose, focusing on advanced technology and ease of business. Each park, requiring about Rs 10,000 crore investment, is projected to create nearly three lakh jobs. Developed on a PPP model, the parks will boast world-class infrastructure with plug & play facilities, aiming to position India as a global textiles hub.
Under the production-linked incentive (PLI) scheme, 64 companies, with 30 set to commence production this year, are participating, anticipating fresh investments exceeding Rs 19,000 crore over five years. This initiative is expected to generate 7.5 lakh jobs, along with additional employment opportunities in supporting activities.
Bharat Tex 2024, a global textile expo scheduled for February 26-29, 2024, in New Delhi, aims to showcase India as a global sourcing and investment destination. The event will bring together stakeholders from the textile value chain, including government and industry representatives.
Under the production-linked incentive (PLI) scheme, 64 companies, with 30 set to commence production this year, are participating, anticipating fresh investments exceeding Rs 19,000 crore over five years. This initiative is expected to generate 7.5 lakh jobs, along with additional employment opportunities in supporting activities.
Bharat Tex 2024, a global textile expo scheduled for February 26-29, 2024, in New Delhi, aims to showcase India as a global sourcing and investment destination. The event will bring together stakeholders from the textile value chain, including government and industry representatives.