INVEST INDIA DESK MINISTRY OF TEXTILES NATIONAL
NEW DELHI, INDIA
By IFAB MEDIA - NEWS BUREAU - June 26, 2023 | 38 2 minutes read
Union Minister Piyush Goyal has suggested setting up a dedicated Invest India desk in the Ministry of Textiles to assist and handhold investors looking to set up or expand their manufacturing base to meet increasing global demand in the sector. Goyal, who is also the Minister of Commerce and Industry and Consumer Affairs, Food, and Public Distribution, released a Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) brochure prepared by the textile team of Invest India while chairing an industry interaction in New Delhi. The minister commended the industry for their enthusiasm to set up and expand businesses in the upcoming PM MITRA Parks, which aim to boost local production and reduce industry logistics costs.
The PM MITRA scheme, launched under Prime Minister Narendra Modi's 5F vision to create a self-reliant India and strengthen its position in global textiles, aims to establish an integrated textile value chain from farm to fashion. The scheme will set up seven PM MITRA Parks in Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Telangana, Tamil Nadu, and Uttar Pradesh through Public-Private Partnership. The parks will cover 1,000 acres each and are expected to create about 100,000 direct and 200,000 indirect jobs per park, with proposed investment of around ₹70,000 crore.
During the industry interaction on 'Investment Opportunities in the Textiles Industry under the PM MITRA Scheme', Goyal urged the industry to collaborate and partner for research and development (R&D) and innovation to jointly achieve greater strides in the sector. He also encouraged the textile industry to utilise current Ministry schemes, including the National Technical Textiles Mission and Scheme For Capacity Building In Textile Sector (Samarth).
The dialogue focused on sustainability, R&D centre establishment, ESG compliance, and value-added product creation in the upcoming PM MITRA Parks. The respective strengths of the textiles sector in each of the seven selected States were highlighted, with an emphasis on infrastructure, scheme benefits, and investor-attractive initiatives. Two action teams were proposed to study ESG norms and global best practice park design for future PM MITRA units.
The PM MITRA Parks are expected to enhance India's textile exports and improve its global competitiveness in the sector. The phased development of these parks for resource efficiency and better textile value chain integration was emphasised. The industry interaction took place in New Delhi, India, and was attended by senior officials of the Ministry of Textiles and representatives from the textile industry.
