Sh. Piyush Goyal in a recent meeting praised Gujarat, Karnataka, MP, Maharashtra, Telangana, Tamil Nadu, and UP for providing a thriving ecosystem for textiles manufacturing
Chairing the Industry Interaction on ‘Investment Opportunities in the Textiles Industry under PM MITRA Scheme’ the Minister strongly urged the industry to collaborate and partner for Research and Development (R&D) and innovation to jointly achieve greater strides in the sector.
The Minister further encouraged the industry to take benefit from the existing attractive schemes of the Ministry of Textiles, including the National Technical Textiles Mission and Scheme For Capacity Building In Textile Sector (Samarth).
He also suggested setting up a dedicated Invest India desk in the Ministry of Textiles to assist and handhold investors looking to set up or expand their manufacturing base to meet increasing global demand in the sector.
He released a PM MITRA Brochure prepared by the Textile Team of Invest India during the event.
Secretary, Ministry of Textiles, Ms. Rachna Shah and senior officials from the Ministry and State Government of the 7 shortlisted states under the PM MITRA scheme held wide-ranging discussions with the industry.
This session was followed by an exclusive industry interaction session chaired by Sh. Goyal with participation of senior leadership from 80+ prominent textiles companies besides infrastructure developers, banks, and international organizations such as the United Nations Industrial Development Organization (UNIDO).
The Minister emphasized the need for phase-by-phase development of these parks for efficient utilization of resources and better integration of the textile value chain.
It was suggested that two 5 member Action Teams be set up to study ESG norms and model park design in line with global leading practices for upcoming units in the PM MITRA parks.
PM MITRA offers the opportunity to create an Integrated Textiles Value Chain right from spinning, weaving, processing/dyeing, and printing to garment manufacturing at one location and will reduce logistics cost of Industry.
PM MITRA scheme will help India in attracting investments, boosting employment generation, and position itself strongly in the global textile market.
It is expected to generate around 1 lakh direct and 2 lakh indirect employment per park, spreading over 1000 acres each and attracting proposed investments of around ₹ 70,000 Cr.
These parks are envisaged to be located at sites that have inherent strength for the textile industry to flourish and have necessary linkages to succeed.