PM Mitra Mega Textiles Park inaugurated in Lucknow Hardoi

PM Mitra Mega Textiles Park inaugurated in Lucknow Hardoi

Recently Prime Minister Mega Integrated Textile Region and Apparel (PM MITRA) Park has been inaugurated in Uttar Pradesh.

The Ministry of Textiles has signed a Memorandum of Understanding (MoU) for Integrated Textile Park in an area of 1,000 acres in Lucknow and Hardoi districts of Uttar Pradesh.

PM MITRA

  • The objective of PM Mitra is to develop integrated large scale and modern industrial infrastructure facilities for the entire value-chain of the textile industry.
  • This scheme is inspired by the 5F vision of the Prime Minister. The ‘5F’ formula includes – Farm to Fiber, Fiber to Factory, Factory to Fashion and Fashion to Foreign.
  • The park will be developed by a Special Purpose Vehicle (SPV). It will be owned by the State Government and the Government of India in Public Private Partnership (PPP) mode. It will monitor the implementation of the project.
  • The establishment of 7 PM Mitra Parks was announced in the Union Budget 2021-22.

Advantage:

  • The scheme will bring down the logistics cost by bringing the entire value chain at one point.
  • It will provide impetus to local weavers and skilled workforce.
  • This will help in achieving the Sustainable Development Goal (SDG-9). SDG-9 focuses on “building resilient infrastructure, promoting sustainable industrialization and encouraging innovation”.

Other initiatives taken by the government to promote the textile industry:

  • 100% Foreign Direct Investment (FDI) is permitted in this sector under the automatic route.
  • ‘Amended Technology Upgradation Fund Scheme’ (A-TUFF) has been launched.
  • National Technical Textiles Mission has been launched.
  • Production Linked Incentive (PLI) scheme is being run for textiles.

Source – Hindustan Times

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