PM Mitra Mega textile parks to 20 lakh jobs and attract estimated Rs 70,000 crore investment: Piyush Goyal

Minister of Commerce & Industry Piyush Goyal stated in a recent social media post that PM Mitra Mega textile parks will create 20 lakh direct/indirect jobs and attract an estimated Rs 70,000 crore of domestic and foreign investment.  He also stressed the fact that the Indian industry will become globally competitive as the parks will help scale up operations, cut costs, improve efficiency, and supply high-quality textiles and apparel.

“Prime Minister Shri Narendra Modi has announced seven PM MITRA mega textile parks in Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, Madhya Pradesh, and Uttar Pradesh. These mega textile parks will be set up with an outlay of Rs. 4,445 crores and this would be the biggest ever initiative for infrastructure in this sector,” he stated in his post.

Ministry of Textiles issued a notification in March 2022 to set up 7 Mega Integrated Textile Region and Apparel (PM MITRA) Parks with a total outlay of Rs. 4,445 crores. These are aimed at helping India to achieve the United Nations Sustainable Development Goal.

“PM MITRA parks were selected through a transparent process, which was validated by the innovative PM GatiShakti National Infrastructure Masterplan. It is another example of collaborative federalism as both the Centre and the concerned States will be partners in the Special Purpose Vehicles (SPV) that will set up and manage these parks,” added Goyal in his post.

Ministry of textile mentioned that several states such as Tamil Nadu, Punjab, Odisha, Andhra Pradesh, Gujarat, Rajasthan, Assam, Karnataka, Madhya Pradesh, and Telangana have expressed interest to be a part of  PM MITRA parks.

“PM MITRA mega textile parks will boost the textiles sector in line with the 5F (Farm to Fibre to Factory to Fashion to Foreign) vision. Glad to share that PM MITRA mega textile parks would be set up in Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, MP, and UP,” tweeted PM Modi today.

Goyal stressed on the fact that PM MITRA dovetails with the government’s initiatives to sign Free Trade Agreements (FTA), which open up developed markets for Indian textiles, apparel, and several other sectors. India has already signed trade deals with UAE and Australia and is negotiating with Canada, UK, and the European Union. These efforts will help Indian textiles get deeper access to profitable developed markets.