13 states, including Karnataka, give presentation on setting up textile park under PM-MITRA

May 10, 2022

Category: General

Country: India

The park will be a one-stop shop for all manufacturing activities and reduce logistics cost

By Annapurna Singh MAY 06 2022

As many as 13 states, including Karnataka, gave presentations on setting up of the PM Mega Integrated Textile Region and Apparel (PM-MITRA) scheme, which has been allocated Rs 4,445 crore for seven years up to 2027-28. The park will be a one-stop shop for all manufacturing activities and reduce logistics cost.

The textile sector has been accorded focus area status in the free trade agreements India is negotiating with countries. Recently it has negotiated zero duty access for textile exports with the UAE and Australia, a move that will help boost domestic production. Similar negotiations are going on with large markets such as the UK and the EU with Commerce Minister Piyush Goyal assuring the FTA with EU to be concluded next year.

"By next year, we would be able to conclude an FTA with the EU. FTAs will push growth and create more jobs," Goyal said here.

PM-MITRA Park will offer the opportunity to create an Integrated textiles value chain right from spinning, weaving, processing, dyeing and printing to garment manufacturing at one location and will reduce logistics cost of Industry, the textile ministry said.

Textile parks are expected to reduce fragmentation in its value chain and increase exports, according to experts. Other states that gave presentation included Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana and Uttar Pradesh enumerating the contours of the 18 proposals for setting up of PM-MITRA Parks in their respective states.

"Each state government showcased its strengths in the textiles sector with a special focus on scheme/policy/benefits/incentives and basic utilities provided for creating industry friendly ecosystem to populate the proposed PM-MITRA Parks," the ministry said.

Courtesy: https://www.deccanherald.com/business/business-news/13-states-including-karnataka-give-presentation-on-setting-up-textile-park-under-pm-mitra-1107037.html