PM MITRA Park

PM MITRA Park Latest News

Recently, the Prime Minister of India inaugurated the PM MITRA Park at Warangal, Telangana.

About PM MITRA Park

• Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) is a mega textile hub that brings every step of textile production, like spinning, weaving, dyeing, printing, and garment-making, into one single place. 
• MITRA parks can be either Greenfield or Brownfield.
  • The seven approved PM Mitra Parks are being set up in: Tamil Nadu (Virudhunagar), Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh (Lucknow district) and Maharashtra.
• Nodal Ministry: Ministry of Textiles.

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PM MITRA Park Features

• Integrated Value Chain: Each park brings spinning, garmenting, dyeing, and processing into a single zone, cutting transport time and costs.
• World-Class Infrastructure: PM MITRA will develop 50% area for pure Manufacturing Activity, 20% area for utilities, and 10% of area for commercial development. 
• Public–Private Partnership: 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.
• Capital and Incentives

• • The Ministry of Textiles will provide financial assistance up to Rs 800 crores per park for Greenfield projects and up to Rs 500 crores per park for Brownfield projects. 
  • The State Governments will provide land and augmented utility infrastructure for the proposed mega textile parks. 

Source: DD News