Spinning India's Future: Mega Textile Parks Rise Across 7 States

Special Purpose Vehicles (SPVs), formed through collaboration between the Centre and states, are currently being established to oversee the development of seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) parks. These parks are strategically located in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, and Maharashtra. With an anticipated creation of almost three lakh jobs in each park, a substantial investment of about Rs 10,000 crore will be dedicated to each facility, focusing on cutting-edge technology and promoting ease of doing business.

Designed to elevate India into a global textile hub, these parks will be developed through a Public-Private Partnership (PPP) model, featuring world-class infrastructure and plug & play facilities.

Furthermore, within the framework of the production-linked incentive (PLI) scheme for the textile sector, 64 companies are actively participating, with 30 firms expected to commence production this year. Over a five-year period, the PLI scheme is forecasted to attract fresh investments exceeding Rs 19,000 crore, generating an additional 7.5 lakh employment opportunities along with several lakhs in supporting activities.

Bharat Tex 2024, the global textile expo, is scheduled to take place in New Delhi from 26-29 February 2024. This event provides a unique platform to showcase India as a global sourcing and investment destination, facilitating the convergence of stakeholders across the textile value chain, including government and industry representatives.

News by Rahul Yelligetti