Central Government approved 7 PM MITRA Parks

Highlights:

• The Cabinet has approved 7 PM Mega Integrated Textile Region and Apparel (MITRA) Parks.
• The MITRA parks will be set up costing Rs. 4445 crores in five years.
• The park was announced as a part of Union Budget 2021-22, which will help India stand at par with Global textile giants.
• These MITRA Parks were established in greenfield or brownfield sites in different states. 
• This will also help with the employment opportunities with 7 lakh direct jobs and 14 lakh indirect jobs.
• Till now, states like Tamil Nadu, Andhra Pradesh, Assam, Gujarat, Rajasthan, and 5 more have shown interest in the establishment.
• A Rs 500 crore Maximum Development Capital Support (DCS) will be provided to Greenfield PM MITRA.
• In contrast, Rs 200 Crore will be provided to Brownfield PM MITRA to develop a standard Infrastructure.
• Aside from that, Rs 300 crore of Competitiveness Incentive Support (CIS) also will be provided to those parks to determine textiles manufacturing units there.
• PM MITRA initiative is motivated by PM Modi’s 5F vision of- “farm to fibre; fibre to factory; factory to fashion; and fashion to foreign”.