7 PM MITRA Parks Approved By Government

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07 October 2021 Current Affairs:The Cabinet has approved 7 PM Mega Integrated Textile Region and Apparel (MITRA) Parks.

Highlights:
♦ The MITRA parks will be set up costing Rs 4445 crores in five years.
♦ The park was announced as a part of Union Budget 2021-22, which will help India stand at par with Global textile giants.
♦ These MITRA Parks were established in greenfield or brownfield sites in different states. ♦ This will also help with the employment opportunities with 7 lakh direct jobs and 14 lakh indirect jobs.
♦ Till now, states like Tamil Nadu, Andhra Pradesh, Assam, Gujarat, Rajasthan, and 5 more have shown interest in the establishment.
♦ A Rs 500 crore Maximum Development Capital Support (DCS) will be provided to Greenfield PM MITRA. 
♦ In contrast, Rs 200 Crore will be provided to Brownfield PM MITRA to develop a standard Infrastructure.
♦ Aside from that, Rs 300 crore of Competitiveness Incentive Support (CIS) also will be provided to those parks to determine textiles manufacturing units there.
♦ PM MITRA initiative is motivated by PM Modi’s 5F vision of- “farm to fibre; fibre to factory; factory to fashion; and fashion to foreign”.
 

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