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October 27, 2021

India to set up 7 apparel, textile parks for US$592.3m

The Ministry of Textiles in India has announced the Government of India plans to set up seven Mega Integrated Textile Region and Apparel (PM MITRA) Parks in greenfield and brownfield sites.

By Laura Husband

The PM Mitra parks scheme for the apparel and textile industry, which is being led by the India Ministry of Textiles will have an initial budget of INR₹4,445 crores (US$592.3m) which is expected to last from 2021-2022 to 2027-2028.

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What is the aim of the new India MITRA parks for the apparel industry?

The aim of the new parks is to help India achieve the United Nations Sustainable Development Goal of building resilient infrastructure, promoting sustainable industrialisation and fostering innovation.

It will be in partnership with willing state governments and will lead to a modern, integrated large scale, world class industrial infrastructure, including plug and play facilities.

The scheme will develop an integrated large scale and modern industrial infrastructure facility for the entire value-chain of the textile industry. It will reduce logistics costs and improve the competitiveness of Indian textiles.

It is also hoped the MITRA parks will help India attract investments, boost employment generation and give it a strong position within the global textile market.

The parks are expected to be based at sites with links to the textile industry in order to help them succeed.

The official notification by the Ministry of Textiles explains for the development of the Greenfield PM MITRA and Brownfield PM Park, there is a provision of Development Capital Support (DCS) at 30% of the project cost with a maximum support of INR₹500 Crore (US$66.6m) and INR₹200 Crore (US$26.7m) per park from the Government of India.

The location of the parks will be based on state governments having ready availability of free land of over 1,000 acres. Locations that fit this criteria will be eligible to apply for the Scheme. The selection of sites will happen on a challenge method with parameters such as good connectivity, adequate quality power infrastructure, water and waste water disposal system, industry friendly labour laws, single window clearances, stable and conducive industrial/textile policy of the state.

The State Governments will be asked to submit their proposals for setting up of PM MITRA Park. A two-stage selection process is expected to follow with stage one being for preliminary selection of potential sites offered by states. Selection of a Master Developer with adequate capacity and experience by a transparent selection process will lead to stage 2. At stage 2, sites will be ready for release of Grants in Aid from Ministry of Textiles for development/construction of PM MITRA park. This will ensure the immediate start of the work at the park sites after the first release of the grant.

 

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Free Report
img

How can brands navigate the post-COVID-19 Apparel market?

In 2021, the Global Apparel market remained at 3% below pre-pandemic levels, with Europe and LATAM lagging behind. If they want to see full recovery, brands must look ahead. GlobalData is therefore offering this free report, Future of the Apparel Market Post Pandemic, to assist companies in adapting to the future market. This report explores the following topics:
  • Latest forecasts for the online apparel market out to 2025
  • How different regions and categories will perform, including which regions are lagging behind and which are performing at pre-pandemic levels
  • Which categories within the Apparel market are displaying resilience
  • Which brands are driving online spending
  • Impact of inflation on the Global Apparel market
  • What the biggest trends are that apparel businesses must adopt to succeed
Read our report on the Future of the Apparel Market Post Pandemic to gain valuable insights on how to best position your brand in a post-COVID-19 world.
by GlobalData
Enter your details here to receive your free Report.

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