PM MITRA Parks

In News 

• Recently, the Union Cabinet led by the Prime Minister of India cleared a proposal to set up seven PM MITRA parks as announced in the Union Budget for 2021-22.

PM MITRA 

• About:
  • The seven Mega Integrated Textile Region and Apparel (PM MITRA) parks will be set up at Greenfield or Brownfield sites located in different states.
  • It is in line with the vision of ‘Atma Nirbhar Bharat’ and to position India strongly on the Global textiles map.
  • The PM MITRA park will be developed by a Special Purpose Vehicle (SPV), which will be owned by the State Government and the Government of India in a Public-Private Partnership (PPP) Mode. 
  • PM MITRA is inspired by the 5F vision of the Prime Minister of India. The ‘5F’ Formula encompasses – farm to fibre; fibre to factory; factory to fashion; fashion to foreign. 

• Capital Support:
  • Maximum Development Capital Support (DCS) of Rs 500 crore to all Greenfield PM MITRA and a maximum of Rs 200 Crore to Brownfield PM MITRA will be provided for the development of Common Infrastructure (at 30 percent of the Project Cost).
  • Rs 300 Crore of Competitiveness Incentive Support (CIS) will also be provided to each PM MITRA park for the early establishment of textiles manufacturing units in PM MITRA. 
• Core infrastructure: 
  • It will include an incubation centre and plug and play facility, developed factory sites, roads, power, water and waste-water system, common processing house and CETP and other related facilities like design centre, testing centres, among others.
    • These parks will also have support infrastructures like workers’ hostels and housing, logistics park, warehousing, medical, training and skill development facilities.

                                           Image Courtesy: PIB

Significance 

• It will lead to increased investments and enhanced employment opportunities .
• It will give domestic manufacturers a level-playing field in the international textiles market & pave the way for India to become a global champion of textiles exports across all segments”.

Source:TH