PM MITRA Parks:
The Ministry of Textiles has issued the Notification on 21 October 2021 for setting up of 7 PM MITRA Parks as announced in Union Budget for 2021-22 and approved by the Central Government.
- PM MITRA Parks is envisaged to help India in achieving the United Nations Sustainable Development Goal 9 (“Build resilient infrastructure, promote sustainable industrialization and foster innovation”).
- PM MITRA is inspired by the 5F vision of Hon’ble Prime Minister. The ‘5F’ Formula encompasses – Farm to fibre; fibre to factory; factory to fashion; fashion to foreign.
- The scheme is to develop integrated large scale and modern industrial infrastructure facility for entire value-chain of the textile industry. It will reduce logistics costs and improve competitiveness of Indian Textiles.
- The 7 PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks will be setup at Greenfield / Brownfield sites located in different willing States. Proposals of State Governments having ready availability of contiguous and encumbrance-free land parcel of 1,000+ acres along with other textiles related facilities & ecosystem are welcome.
- For a Greenfield PM MITRA park, the GOI Development Capital Support will be 30% of the Project Cost, with a cap of ₹500 Cr.
- For Brownfield sites, after assessment, Development Capital Support @30% of project cost of balance infrastructure and other support facilities to be developed and restricted to a limit of Rs. 200 Crore.
- State Government supports will include provision of 1,000 Acre land for development of a world class industrial estate.
- Competitiveness Incentive Support (CIS) of ₹300 Crore will also be provided to each PM MITRA park for early establishment of textiles manufacturing units in PM MITRA Park.
- PM MITRA park will be developed by a Special Purpose Vehicle which will be owned by State Government and Government of India in a Public Private Partnership (PPP) Mode.
- The Master Developer will not only develop the Industrial Park but also maintain it during the concession period. Selection of this Master Developer will happen based on objective criteria developed jointly by State and Central Governments.