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MoUs worth Rs 18,500-cr investment inked for PM MITRA Parks

Thursday, 02 Jan 2025
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The Ministry of Textiles has signed investment memorandums of understanding (MoUs) worth over Rs 18,500 crore for PM Mega Integrated Textile Region and Apparel (PM MITRA) parks.

As per the Ministry’s year-end review, the selected states and the special purpose vehicles (SPVs) managing the parks have initiated groundwork to ensure the provision of essential facilities like water, power, and roads up to the park gates. Seven PM MITRA parks have been approved for development on greenfield and brownfield sites with advanced infrastructure. These parks will include 'plug and play' facilities, enabling efficient operations for textile businesses. 

The government has allocated Rs 4,445 crore for the parks over seven years, up to 2027-28. Currently, 100 percent of the required land for the parks in Gujarat, Uttar Pradesh, Tamil Nadu, Karnataka, and Telangana has been acquired and handed over to the respective SPVs, with environmental clearances secured. 

The textile industry accounts for nearly two percent of the GDP, 10 percent of industrial production, and 8.21 percent  of the country’s overall exports. It also provides direct employment to over 45 million people.

India is the sixth-largest exporter of textiles globally, with a 3.91 percent share in world textile exports. In 2023-24, India’s textile exports were valued at USD 35.87 billion, while domestic production in the textile and apparel sector stood at approx. USD 175.7 billion. The PM MITRA initiative is expected to further bolster India’s position as a global textile hub. With robust infrastructure and operational efficiency, these parks will support the production and export of high-quality textile products, reinforcing India's presence in international markets.

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