In News: The Union Finance Minister in her Budget Speech 2021-22 has announced the Mega Investment Textiles Parks (MITRA) scheme.
Background
- India has already sanctioned 59 textile parks under the Scheme for Integrated Textile Parks (SITP)
- Due to slow progress and delays in obtaining land from state governments and tardy fund mobilisation have prompted the government to develop MITRA parks.
MITRA Scheme
- Indian textiles ministry has proposed to develop seven Mega Integrated Textile Region and Apparel (MITRA) parks as part of a plan to double the industry size to $300 billion by 2025-26
- These parks to be set up over 1,000 acres of land with world class infrastructure, and plug-and-play facilities.
Mega Investment Textiles Parks (MITRA)
- Mega Investment Textiles Parks (MITRA) to enable the textile industry to become globally competitive, attract large investments, boost employment generation and exports.
- This will create world class infrastructure with plug and play facilities to enable creation of global champions in exports.
- MITRA will be a game changer for the Indian Textiles Industry.
- Along with the Production Linked Incentive (PLI) scheme, MITRA will lead to increased investments and enhanced employment opportunities
- 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
Source: PIB
