PM MITRA SCHEME
18th March, 2023 Economy
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- The Govt. of India announced the sites for setting up of 7 PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks for the Textile industry. The Parks will come up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra.
What is PM-MITRA?
- In 2021, Ministry of Textiles (MoT) launched PM Mega Integrated Textile Regions and Apparel Parks (MITRAs) Schemeto strengthen the Indian textile industry by way of enabling scale of operations, reduce logistics cost by housing entire value chain at one location, attract investment, generate employment and augment export potential.
- PM MITRA is inspired by the 5F vision of the Prime Minister. The '5F' Formula encompasses - Farm to fibre; fibre to factory; factory to fashion; fashion to foreign.
- It aspires to fulfil the vision of building an Aatmanirbhar Bharat and to position India strongly on the Global textiles map.
- PM MITRA Parks offer an opportunity to create an integrated textiles value chain right from spinning, weaving, processing/dyeing and printing to garment manufacturing at 1 location.
- An Integrated Textile Value chain at 1 location will reduce the logistics cost of the Industry.
- Intended to generate ~1 lakh direct and 2 lakh indirect employment per park.
- The scheme id developing an integrated large-scale and modern industrial infrastructure facility for the total value-chain of the textile industry for example, spinning, weaving, processing, garments, textile manufacturing, processing & printing machinery industry.
- These parks are envisaged to be located at sites which have inherent strengths for the textile industry to flourish and have the necessary linkages to succeed.
- The scheme envisages leveragingPublic Private Partnership model for fast-paced implementation in a time-bound manner.
Significance of the Scheme
- PM MITRA Parks are a major step forward in realising the Government's vision of making India a global hub for textile manufacturing and exports. It is expected that these parks will enhance the competitiveness of the textiles industry by helping it achieve economies of scale as well as attract global players to manufacture in India.
- PM MITRA Parks will help in creating world-class industrial infrastructure that would attract large scale investment including foreign direct investment (FDI) and encourage innovation and job creation within the sector.
- PM MITRA Parks represent a unique model where the Centre and State Governments will work together to increase investment, promote innovation, create job opportunities and ultimately make India a global hub for textile manufacturing and exports.
- Nearly Rs. 70,000 crores investment and 20 lakhs employment generation is envisaged through these parks.
PRELIMS PRACTICE QUESTION
Q. Choose the correct answer with reference to the following statements.
A. PM MITRA is a scheme under the Ministry of Commerce and Industry.
B. It envisages strengthening the Indian textile industry by way of enabling the scale of operations, reducing logistics costs by housing the entire value chain at one location, attracting investment, generating employment and augmenting export potential.
1) A only
2) B only
3) Both A and B
4) Neither A nor B