Mega Textile Park

About:

• The Parks will come up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra.
• It is under PM Mega Integrated Textile Regions and Apparel (PM MITRA) scheme.
• It will offer the opportunity to create an Integrated Textiles Value Chain right from spinning, weaving, processing/dyeing and printing to garment manufacturing etc. at one location and will reduce the logistics cost of the Industry.
• A Special Purpose Vehicle owned by the Centre and State Government will be set up for each park which will oversee the implementation of the project.
• Funding:
  • The Central government’s budget outlay for the scheme, which is ₹4,445 crore, is to be spent till 2027-28.
  • Special purpose vehicles, with a 51% equity shareholding of the State government and 49% of the Centre, will be formed for each park.
  • The State governments will provide the land, be part of the SPV, and give the required clearances.
  • The Central government will disburse Development Capital Fund of ₹500 crore in two tranches for each of the seven facilities.
  • This is for the creation of core and support infrastructure.
  • It will also give a Competitive Incentive Support of ₹300 crore per park to be provided to the manufacturing units.
• Nodal Ministry: Ministry of Textiles

 

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Q1) What is the Ministry of Textiles?

The Ministry of Textiles is responsible for policy formulation, planning, development, export promotion and trade regulation of the Textiles Industry. This includes all natural and man made cellulosic fibres that go into the making of textiles, clothing, and handicrafts.

Source: New Mega Textile Park at Dhar district will strengthen Make in India and will create new job opportunities: PM Mod