PM Modi lays foundation stone for PM Mega Integrated Textile Regions and Apparel Park in Maharashtra

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.