One of seven states to win the massive textile park project is the election-bound Karnataka

by Subhechcha Ganguly

According to PM Modi, PM MITRA (Mega Integrated Textile Region and Apparel) will support the 5F (Farm to Fibre to Factory to Fashion to Foreign) goal by boosting the textile industry. The development of seven “PM MITRA” mega textile parks, one in each of Karnataka, Tamil Nadu, Telangana, Maharashtra, Gujarat, Madhya Pradesh, and Uttar Pradesh, was officially launched by Prime Minister Narendra Modi on Friday. According to the textiles ministry, this project will attract 70,000 crores in investments, generate 2 million jobs, and significantly increase exports.Minister of Prime Narendra Modi (PTI)

Mega Integrated Textile Region and Apparel, or PM MITRA, will offer cutting-edge infrastructure for the textiles industry, draw in investment of crores, and generate lakhs of jobs. That will serve as a fantastic illustration of “Made in India” and “Make for the World,” he continued in a subsequent tweet. The seven parks, according to textiles minister Piyush Goyal, will “really promote the Aatmanirbhar Bharat programme” and establish an integrated textile value chain in one place.According to a formal statement, PM MITRA Parks will assist in developing world-class industrial infrastructure that will draw substantial investment, including foreign direct investment (FDI), and promote innovation and job development in the industry. These projects will be carried out under the direction of the textiles ministry. “An SPV owned by the Central and State Governments will be established for each park to manage project execution. The Park SPV will receive financial assistance from the Ministry of Textiles in the form of Development Capital Assistance up to 500 crore per park, it was stated.

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