To realise the imaginative and prescient of Prime Minister Narendra Modi of constructing an Aatmanirbhar Bharat and to place India strongly on the Global textiles map, the Union Cabinet has authorized the setting up of seven PM MITRA parks as introduced in Union Budget for 2021-22.
Briefing in regards to the Cabinet determination, Union Minister for Commerce and Industry Piyush Goyal on Wednesday stated that the seven Mega Integrated Textile Region and Apparel (PM MITRA) parks might be set up at Greenfield or Brownfield websites situated in several states.
“Maximum Development Capital Support (DCS) of Rs 500 crore to all Greenfield PM MITRA and a most of Rs 200 Crore to Brownfield PM MITRA might be supplied for the event of Common Infrastructure (at 30 per cent of the Project Cost) and Rs 300 Crore of Competitiveness Incentive Support (CIS) can even be supplied to every PM MITRA park for early institution of textiles manufacturing models in PM MITRA. State Government helps will embrace the supply of 1,000-acre land for the event of a world-class industrial property,” stated Goyal.
The Minister stated PM MITRA is impressed by the 5F imaginative and prescient of Prime Minister Modi. “The ‘5F’ Formula encompasses – farm to fibre; fibre to manufacturing unit; manufacturing unit to trend; trend to overseas. This built-in imaginative and prescient will assist to additional the expansion of the textile sector within the financial system. No different competing nation has an entire textile ecosystem like us. India is robust in all 5 Fs,” he stated.
As per an official launch, “for a Greenfield PM MITRA park, the federal government of India growth capital help might be 30 per cent of the mission price, with a cap of Rs 500 crore. For Brownfield websites, after evaluation, growth capital help at 30 per cent of mission price of stability infrastructure and different help amenities to be developed and restricted to a restrict of Rs 200 crore.”
“This is in a type of viability hole funding to make the mission enticing for the participation of the personal sector,” the discharge stated.
According to the official launch, the core infrastructure of PM MITRA parks will embrace an incubation centre and plug and play facility, developed manufacturing unit websites, roads, energy, water and waste-water system, widespread processing home and CETP and different associated amenities like design centre, testing centres, amongst others. It can even have help infrastructures like staff’ hostels and housing, logistics park, warehousing, medical, coaching and talent growth amenities.
“PM MITRA will develop 50 per cent space for pure manufacturing exercise, 20 per cent space for utilities, and 10 per cent of the realm for business growth,” it added.
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