“For incentivizing manufacturing units to get established early in PM MITRA Park, there is a provision of ₹ 300 Cr per park.”
At the inauguration of the ‘Bharat Tex 2024’ global textile event, Prime Minister Narendra Modi highlighted the government’s ambitious plans to build seven PM MITRA parks across the country.
The event, inaugurated by Prime Minister Narendra Modi, witnessed an overwhelming response from both Indian and global participants, including top brands and retailers. Organized by a consortium of 11 Textile Export Promotion Councils and supported by the Ministry of Textiles, Bharat Tex 2024 showcased the best of India’s textile industry, focusing on trade, investment, and sustainability. With over 3,500 exhibitors, 3,000 buyers from 111 countries, and more than one lakh trade visitors, the event highlighted the immense potential of India’s textile sector on the global stage. From vibrant exhibitions to engaging knowledge sessions and high-profile business meetings, Bharat Tex 2024 offered an unparalleled platform for industry leaders to connect, collaborate, and drive the textile revolution forward.
The Ministry of Textiles (MoT) has launched PM Mega Integrated Textile Regions and Apparel Parks (MITRAs) Scheme to strengthen the Indian textile industry by way of enabling scale of operations, reduce logistics cost by housing entire value chain at one location, attract investment, generate employment and augment export potential. The scheme will develop integrated large scale and modern industrial infrastructure facility for total value-chain of the textile industry for example, spinning, weaving, processing, garmenting, textile manufacturing, processing & printing machinery industry. These parks are envisaged to be located at sites which have inherent strengths for textile industry to flourish and have necessary linkages to succeed. The scheme envisages to leverage Public Private Partnership model for fast paced implementation in a time-bound manner.
For incentivizing manufacturing units to get established early in PM MITRA Park, there is a provision of ₹ 300 Cr per park. Incentive will be provided to manufacturing units up to 3% of the total sales turnover to the unit established in the PM MITRA Park to reduce its cost and offset its disadvantages to a certain extent.
Source: Ministry of Textiles
