Prime Minister Narendra Modi laid the foundation stone for the PM Mega Integrated Textile Regions and Apparel Park (PM MITRA) in Maharashtra’s Amravati.
Event Info
The 1000-acre park is being developed by the Maharashtra Industrial Development Corporation (MIDC) as the State Implementation Agency. The central government had approved setting up 7 PM MITRA Parks for the textile industry.
About PM Mitra Park
- PM MITRA Park will be developed by a Special Purpose Vehicle which will be owned by the Central and State Government and in a Public Private Partnership (PPP) Mode.
- Each MITRA Park will have an incubation centre, common processing house and a common effluent treatment plant and other textile related facilities such as design centres and testing centres.
Implementation
- Special Purpose Vehicle: An SPV owned by the Centre and State Government will be set up for each park which will oversee the implementation of the project.
- Development Capital Support: The Ministry of Textiles will provide financial support in the form of Development Capital Support upto Rs 500 crore per park to the park SPV.
- Competitive Incentive Support (CIS): A CIS upto Rs 300 crore per park to the units in PM MITRA Park shall also be provided to incentivise speedy implementation.
- Convergence with other Schemes: Convergence with other Government of India schemes shall also be facilitated in order to ensure additional incentives to the Master Developer and investor units.
Significance
- Reduce Logistics Cost
- Employment
- Attract FDI
- Competitiveness
Along with this Maharashtra state scheme “Acharya Chanakya Skill Development Centre” launched in the event.
- Scheme features : Skill development training centres will be established in renowned colleges across the state to provide training to youth aged 15 to 45, enabling them to become self-reliant and access various employment opportunities.
- Around 1,50,000 youths across the state will receive free skill development training each year.