Expeditious roll-out of PM MITRA to help attract large investments, FDI in textiles: Experts
investments, including FDI, in the sector besides generating huge employment, said industry experts. After inaugurating 'Bharat Tex 2024', one of the largest-ever global textile events to be organised in the country, Prime Minister Narendra Modi threw light on the government's expansive plans to create seven PM MITRA parks in various states and underlined the emphasis on the creation of opportunities for the entire textile sector.
The parks are coming up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra. Nearly Rs 70,000 crore investment and 20 lakh employment generation is envisaged through these parks.
The valuation of the Indian textiles market is estimated at Rs 12 lakh crore.
The Union Ministry of Textiles is overseeing the execution of these projects. A special purpose vehicle (SPV) owned by the Centre and state governments is being set up for each park, which will oversee the implementation of the project.
Mithileshwar Thakur, Secretary General, Apparel Export Promotion Council (AEPC), said the PM MITRA parks seek to address the traditional as well as emerging challenges that the textiles industry has been facing for a long time. These parks will bring together the entire textile value chain under one roof deriving inspiration from the PM's 5F vision — farm to foreign via fiber, fabric, and fashion focus.
PM MITRA parks will create an enabling ecosystem by facilitating the provision of all utilities, reliable power supply, water availability, wastewater disposal
