These parks will create 20 lakh direct/indirect jobs and attract an estimated Rs 70,000 crore of domestic and foreign investment

Prime Minister Narendra Modi announced on Friday that ‘PM MITRA mega textile parks’ will be set up in Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, Madhya Pradesh and Uttar Pradesh, and asserted that they will attract massive investments and create lakhs of jobs.

“The PM MITRA mega textile parks will provide state-of-the-art infrastructure for the textiles sector, attract investment of crores and create lakhs of jobs. It will be a great example of ‘Make in India’ and ‘Make For the World’,” Modi tweeted.

He added, “PM MITRA mega textile parks will boost the textiles sector in line with 5F (Farm to Fibre to Factory to Fashion to Foreign) vision. Glad to share that PM MITRA mega textile parks would be set up in Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, MP and UP.” In a Facebook post, Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles Piyush Goyal said these mega textile parks will be set up with an outlay of Rs 4,445 crore and this would be the biggest ever initiative for infrastructure in this sector.

These parks will create 20 lakh direct/indirect jobs and attract an estimated Rs 70,000 crore of domestic and foreign investment, he added.

Goyal further said they will be shining examples of sustainability, with zero liquid discharge, common effluent treatment, use of emission-free renewable energy and adoption of global best practices.

Meanwhile, in a series of tweets, Goyal also described the announcement by the Prime Minister as “India’s big leap towards becoming a global textiles hub”.

He said this cluster-based approach will enhance the quality and competitiveness of products, boost exports and strengthen India’s position in global supply chains.

“It is an unmissable opportunity for investors, manufacturers, exporters and international buyers,” he said.

The minister congratulated the people of seven states who will “further fuel the Aatmanirbhar Bharat journey & make India a textiles hub”.

In his Facebook post, Goyal said India’s rich tradition of textiles, which dates back to the ancient era, is poised for a quantum leap that will make India a global investment, manufacturing and export hub.

He said inspired by the Prime Minister’s 5F vision, PM MITRA park is a major step forward to achieve the Aatmanirbhar Bharat and ‘Vocal for Local’ initiatives.

“It will revolutionize the sector and create global champions with the help of world-class facilities, state-of-the-art infrastructure and an integrated value chain at each location. A Master Developer (MD) will be selected who will be responsible for designing, planning, building, financing, operating and maintaining the PM MITRA Park,” he said.

Goyal further said this is a big jump for the industry as the value chain is currently scattered across the country, which adds costs and delays in each link of the chain.

“Indian industry will become globally competitive as the parks will help scale up operations, cut costs, improve efficiency and supply high-quality textiles and apparels,” he said.

PM MITRA parks were selected through a transparent process, which was validated by the innovative PM GatiShakti National Infrastructure Master Plan, the minister said.

It is another example of collaborative federalism as both the Centre and the states concerned will be partners in the Special Purpose Vehicles (SPV) that will set up and manage these parks, he added.

PM MITRA dovetails with the government’s initiatives to sign free trade agreements, which open up developed markets for Indian textiles, apparels and several other sectors. India has already signed trade deals with the UAE and Australia, and is negotiating with Canada, the UK and the European Union.

These efforts, Goyal said will help Indian textiles get deeper access to profitable developed markets. India is already one of the largest exporters of textiles and apparel in the world, but the aspiration in the Amrit Kaal, as the country marches to become a developed nation by 2047 under the decisive and visionary leadership of the Prime Minister, is to be the largest exporter in the world.

https://www.financialexpress.com/economy/mega-textile-parks-to-be-set-up-in-seven-states-says-pm-modi/3013728/