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Source- This post on PM MITRA Parks has been created based on the article “PM Mitra Parks to ensure strengthening of local economy & textile ecosystem” published in “PIB” on 10 August 2024.
Why in News?
The Government has approved the establishment of 7 PM MITRA Parks on Greenfield/Brownfield sites with world-class infrastructure, including plug-and-play facilities up to 2027-28.
About PM MITRA Parks
| Aspects | Description |
| About | PM Mitra Parks aim to create world-class industrial infrastructure, attract large-scale investment, and encourage innovation and job creation within the sector. A Special Purpose Vehicle (SPV) jointly owned by the Central and State Governments, will be established for each park. |
| Nodal Ministry | The Ministry of Textiles will serve as the nodal ministry for this project. |
| Aim | These parks aim to enhance the local economy and the textile ecosystem through significant infrastructure development and investment. |
1. The Government of India has approved the establishment of seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks across the country.
2. The Government has approved the setup of 7 PM MITRA Parks.
3. Locations: The parks will be established in Tamil Nadu (Virudhnagar), Telangana (Warangal), Gujarat (Navsari), Karnataka (Kalaburagi), Madhya Pradesh (Dhar), Uttar Pradesh (Lucknow), and Maharashtra (Amravati).
4. The parks will be developed on both Greenfield and Brownfield sites, with world-class infrastructure, including plug-and-play facilities.
5. SPVs have been incorporated for 5 Greenfield sites in Gujarat, Tamil Nadu, Karnataka, Madhya Pradesh, and Uttar Pradesh. For the Brownfield sites in Maharashtra and Telangana, existing implementation arrangements will continue as per guidelines.
Investment and Economic Impact
i) Each park is expected to attract an investment of approximately Rs. 10,000 crores, including both foreign and domestic investments.
ii) The investment is anticipated to boost the local economy and strengthen the textile ecosystem in these regions.
UPSC Syllabus: Indian economy
