Cabinet committee has accepted PM Mitra Scheme 2022 during which 7 mega textile parks are to be setup. The central govt. has allotted Rs. 4,445 crore for subsequent 5 years below Pradhan Mantri Mitra Yojana. The scheme goals to ascertain “holistic integrated textile processing regions” throughout the nation. Mega Integrated Textile Region and Apparel (PM MITRA) parks would combine the presently scattered worth chain of textile merchandise. In this text, we are going to let you know concerning the full particulars of PM Mega Investment Textiles Parks Scheme.
What is PM Mitra Scheme 2022
On 6 October 2021, cupboard accepted seven new mega textile parks below PM Mitra Scheme. The new scheme goals to create world-class infrastructure with plug-and-play amenities that allow main investments in exports. The parks are part of the federal government’s “Farm to Fiber to Factory to Fashion to Foreign” push and can generate 1 lakh direct & 2 lakh oblique employment per park.
The authorities had first proposed the Mega Investment Textiles Parks (MITRA) scheme again in February, to allow the textile business to change into globally aggressive and enhance employment era and exports. These Mega Investment Textiles Parks might be arrange at greenfield or brownfield websites positioned in several prepared states.
Need for Mega Investment Textiles Parks (MITRA) Scheme
Currently, the whole worth chain of textiles is scattered & fragmented in several components of the nation. This consists of:-
- Cotton grown in Gujarat & Maharashtra,
- Spinning in Tamil Nadu
- Processing in Rajasthan & Gujarat
- Garmenting within the National Capital Region, Bangalore, Kolkata and so on
- Exports from Mumbai & Kandla
So to combine the presently scattered worth chain of textile merchandise, PM Mitra Scheme has been launched by the central authorities. Several states reminiscent of Tamil Nadu, Punjab, Odisha, Andhra Pradesh, Gujarat, Rajasthan, Assam, Karnataka, Madhya Pradesh & Telangana have expressed curiosity in PM Mitra Yojana.
Components of PM MITRA Parks
New PM Mitra Scheme may have 2 components, with the bigger part being improvement help. The authorities estimates the price of establishing every park at an estimated Rs. 1700 crore. Out of this, upto 30% of the challenge value or Rs, 500 crore in greenfield parks, and upto Rs. 200 crore in brownfield parks might be supplied by the federal government as improvement capital help.
On the opposite hand, the primary movers who set up anchor vegetation and rent atleast 100 folks will even additionally get a aggressive incentive help from the federal government. These companies can safe upto Rs. 10 crore in a yr for 3 years or a complete of Rs. 30 crore below this system. In addition, this won’t be a part of the present PLI scheme.
Central Government Schemes 2022Central Government Scheme HindiPopular Schemes in Central:Pradhan Mantri Awas Yojana 2022PM Awas Yojana Gramin (PMAY-G)Pradhan Mantri Awas Yojana
PM Mega Integrated Textile Region and Apparel (MITRA) Park Scheme Benefits
Central authorities desires “holistic integrated textile processing regions” to be established round Mega Investment Textiles Parks. These newly established mega textile parks would come with the next amenities:-
- Common service facilities
- Design facilities
- Research and improvement facilities
- Training amenities
- Medical amenities
- Housing amenities
- Inland Container Terminals
- Logistics warehouses
PM Mitra Scheme was conceived with an goal to work in tandem with the production-linked incentive scheme (PLI) within the textiles sector. In September 2021 month, the central authorities had notified the Rs. 10,683-crore PLI, particularly aimed toward boosting the manufacturing of artificial fiber (MMF) material, MMF attire and technical textiles.
In the latest months, central authorities pushed by the Textiles Ministry had modified its fundamental parameters for PLIs. While most PLIs focused high-value items or people who would minimize import dependence, artificial fibres, which embody rayon, nylon, polyester and acrylic, and technical textiles do not come below both class. Both schemes collectively are anticipated to show the tide on falling investments and reducing productiveness within the sector.
Background
In phrases of employment, the textiles and attire business in India is simply behind the general agricultural sector. Textiles sector gives direct employment to 4.5 crore folks and 6 crore folks in allied industries, in keeping with Invest India, the federal government’s funding promotion arm.
India is among the many world’s largest producers of textiles merchandise and attire. The home textiles and attire business contributes 5% to India’s GDP, 7% of business output in worth phrases, and 12% of the nation’s export earnings.
The share of India’s textiles and attire exports in mercantile exports was 11% in 2019-20. Central Govt. is now giving extra emphasis on distinctive commerce points which have eaten away at India’s competitiveness within the world marketplace for textiles. Indian corporations and exporters have repeatedly misplaced market share abroad to extra aggressive rivals from China, Bangladesh, and Thailand. This has been excruciatingly massive in segments like attire.
Source / Reference Link: https://www.moneycontrol.com/news/business/economy/cabinet-approves-seven-new-mega-textile-parks-says-piyush-goyal-7550111.html
With inputs from Sarkariyojana
