PM MITRA Park Scheme

    0
    644

    In News 

    • Recently, the State Governments have been requested to send their proposals for PM MITRA Parks Scheme by 15th March 2022.

    PM MITRA 

    • About:
      • The seven Mega Integrated Textile Region and Apparel (PM MITRA) parks will be set up at Greenfield or Brownfield sites located in different states.
      • It is in line with the vision of ‘Atma Nirbhar Bharat’ and to position India strongly on the Global textiles map.
      • It will be developed by a Special Purpose Vehicle (SPV), which will be owned by the State Government and the Government of India in a Public-Private Partnership (PPP) Mode. 
      • It is inspired by the 5F vision of the Prime Minister of India. The ‘5F’ Formula encompasses – farm to fibre; fibre to factory; factory to fashion; fashion to foreign. 
    • Core infrastructure: 
    • It will include an incubation centre and plug and play facility, developed factory sites, roads, power, water and waste-water system, common processing house and CETP and other related facilities like design centre, testing centres, among others.
      • These parks will also have support infrastructures like workers’ hostels and housing, logistics park, warehousing, medical, training and skill development facilities.
    • The Scheme shall be implemented on a pan-India basis and is intended for the holistic development of the Textile sector.

    Greenfield and Brownfield Projects

    • There are two types of infrastructure projects – greenfield development and brownfield development.
      • With greenfield development, a company will build its own, brand new facilities from the ground up.
      • Brownfield development happens when a company purchases or leases an existing facility.

    Significance 

    • It will reduce logistics costs and strengthen the value chain of the textile sector to make it globally competitive.
    • It will lead to increased investments (FDI and local) and enhanced employment opportunities.
    • It will give domestic manufacturers a level-playing field in the international textiles market & pave the way for India to become a global champion of textiles exports across all segments.

    Other related initiatives 

    • The Government has approved the Production Linked Incentive (PLI) Scheme for Textiles for promotion of Man-Made Fibre(MMF) Apparel, MMF Fabrics and products of Technical Textiles. 
      • Benefits of PLI will be available to eligible companies in PM MITRA parks also. 
      • However, the Competitive Incentive Support (CIS) under PM MITRA Parks Scheme will only be available to those manufacturing companies who are not availing benefits of Production Linked Incentive (PLI) for Textile Scheme.  
    • A National Technical Textiles Mission has already been launched to promote research and development in that sector.

    Source: PIB

    RELATED ARTICLESMORE FROM AUTHOR