New Delhi: Union Ministers Anurag Thakur and Piyush Goyal on Wednesday announced that the government has gone ahead and approved the proposal to set up a Mega Integrated Textile Park which will generate employment and attract investment to the sector.
The cabinet has approved setting up of Mega Integrated Textile Region and Apparel (PM Mitra) Park at 7 pm with a total outlay of Rs 4,445 crore over five years.
According to news agency ANI, Commerce Minister Piyush Goyal said, “The move inspired by PM Modi’s 5F vision – from Farm to Factory to Fashion to Foreign.”
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What is the plan after all?
First announced in the Union Budget 2021, the PM-MITRA scheme is designed to make the textile industry globally competitive, attract large investments, generate employment and boost exports.
At the time of budget, Finance Minister Nirmala Sitharaman said that the scheme will create world-class infrastructure with plug-and-play facilities to enable it to be a global champion in exports.
According to industry experts, these mega-investment textile parks will play an important role in attracting foreign direct investment (FDI), experts believe.
Union Commerce and Textiles Minister Piyush Goyal had earlier said that the sector would achieve the export target of $44 billion in 2021-22. Goyal said the industry aims to export $100 billion in the next five years.
Meanwhile, the Union Cabinet also approved bonus equal to 78 days’ salary to eligible non-gazetted railway employees. Anurag Thakur said that about 11.56 lakh non-gazetted railway employees are likely to benefit from this decision.
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