Seven Mega Textile Park proposed as a leg-up to domestic manufacturing
With the announcement of setting up Seven Mega Integrated Textile Region and Apparel Park (MITRA), the government aims to catapult domestic textiles in the global supply chain.
Aiming at creating world class infrastructure with plug and play facilities to facilitate global champions in textile exports. Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman, presenting the Union Budget 2021-22 in the parliament proposed seven mega investment textiles parks MITRA to be established over 3 years which will be linked to the Production Linked Incentive Scheme (PLI). The project is likely to attract the large investments and boost employment generation at regional level.
“Emphasis on state-of-the-art infrastructure through MITRA will give our 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, tweeted Union Textile Minister Smriti Irani.
Lauding the initiative, Indian Texpreneurs Federation (ITF) convenor Prabhu Dhamodharan mentioned the opportunities emerging from China as buyers are looking for alternative destinations for sourcing, besides Tamil Nadu has a robust manufacturing eco system which can be capitalised.
Tirupur exporters would opt to set up the units in the parks. Tirupur is a hub of the textile processing and knitting industry providing employment to over 5 lakh persons contributing 22% of garment export. Rs 700 crore has also been alloted for the Amended Technology Upgradation Scheme (ATUFs) against Rs 545 crore in the last budget which would help clear the pending capital subsidy.
The additional allocation of Rs 30 crore for export promotion studies against Rs 5 crore in the last Budget was also much appreciated among major textile players.
Cover image by villagesquare (Photo by Ninglun Hanghal)
