PM MITRA Parks

Why in news?

• Seven sites were chosen out of 18 proposals for PM MITRA parks which were received from 13 States. 
• The Parks will come up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra.

About PM MITRA:

• 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 Ministry of Textiles will provide financial support in the form of Development Capital Support up to Rs. 500 crores per park to the Park SPV.
  • A Competitive Incentive Support (CIS) of up to Rs 300 crore per park to the units in PM MITRA Park shall also be provided to incentivise speedy implementation.
  • State governments will provide a contiguous and encumbrance-free land parcel of at least 1000 acres of land.
• Nodal Ministry: Ministry of Textiles

 

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Q1) What is a Samarth scheme?

Samarth is a demand-driven and placement-oriented umbrella skilling programme of the Ministry of Textiles. The implementation period of the scheme is up to March 2024. The scheme was formulated under the broad skilling policy framework adopted by M/o Skill Development & Entrepreneurship.

Source: Seven PM MITRA (Pradhan Mantri Mega Integrated Textile Region and Apparel) Park sites announced