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India’s Textile Ministry announces operational guidelines for PM Mitra

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The Indian Ministry of Textiles has introduced the operational tips for PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks scheme. PM MITRA scheme is predicted to strengthen the Indian textile trade by the use of enabling scale of operations, scale back logistics value by housing whole worth chain at one location, appeal to funding, generate employment and increase export potential.

The scheme will develop built-in giant scale and trendy industrial infrastructure facility for whole value-chain of the textile trade for instance, spinning, weaving, processing, garmenting, textile manufacturing, processing and printing equipment trade. These parks are envisaged to be positioned at websites which have inherent strengths for textile trade to flourish and have needed linkages to succeed. The scheme envisages to leverage Public Personal Partnership mannequin for quick paced implementation in a time-bound method.

PM MITRA Parks shall be arrange on the premise of proposals acquired from state governments having prepared availability of contiguous and encumbrance-free land parcel of minimal 1000 acres. The state authorities will switch land to the Particular Objective Automobile (SPV) at notional worth. The land asset shall be used to leverage/appeal to funding within the PM MITRA parks for growth and upkeep of the parks with excessive customary specs. SPV shall be a authorized entity (with 51 per cent fairness shareholding of state authorities and 49 per cent of central authorities) arrange by the state authorities for the aim of implementing the PM MITRA Park Challenge, the ministry mentioned within the tips.

The Indian Ministry of Textiles has introduced the operational tips for PM Mega Built-in Textile Area and Attire (PM MITRA) Parks Scheme. The Ministry launched PM MITRAs Scheme to strengthen the Indian textile trade by the use of enabling scale of operations and scale back logistics value by housing whole worth chain at one location.

The scheme has a finances outlay of ₹4,445 crore together with administrative bills of ₹30 crore over 7-year interval as much as 2027-28.

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