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Home Economy

Mega Investment Textiles Parks (MITRA)

February 4, 2021
in Economy
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Mega Investment Textiles Parks (MITRA)
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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
Tags: PIBPrelims

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