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(THE GIST OF PIB) PM-MITRA Scheme

(THE GIST OF PIB) M-MITRA Scheme

Recently, the Prime Minister of India has lauded the foundation stone laying of 2 mega textile parks in Maharashtra and Gujarat under the 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 Vehicleowned by the Centre and State Government will be set up for each park which will oversee the implementation of the project.

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
Government of India has planned to establish these parks in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra.