The Indian textiles and clothing industry has thanked the Government for announcing the names of the states where 7 mega textiles parks will be set up.

The industry believes that this step will enable the industry to achieve the envisaged textile business size of US $ 350 Billion by 2030.

Tamil Nadu’s Chief Minister M.K. Stalin also expressed his gratitude to the Prime Minister for selecting Virudhunagar in Tamil Nadu for the PM MITRA Park. In Tamil Nadu, Park will come up on 1,052 acres at E. Kumaralingapuram in Virudhunagar.

The scheme extends 30 per cent of the project cost with a cap of Rs 500 crore per park for greenfield projects and Rs 200 crore for brownfield projects as Development Capital Support and Rs.300 crore per park as Competitiveness Incentive Support which will greatly help the new projects to break even and gain global competitiveness from the first year.

Ravi Sam, Chairman, The Southern India Mills’ Association (SIMA) thanked the Government for allocating three parks for southern states viz., Tamil Nadu, Telangana and Karnataka considering the unique capabilities of these states. He also appreciated the Chief Ministers of the three southern states for making considerable efforts in bringing the mega park to their states.

He has said that this announcement would further strengthen Karnataka which has prominence in readymade garment manufacturing activities and Telangana which has been the third largest cotton-producing state in the country and has attractive state textile policies in attracting new investments.

He said that the PM MITRA mega textile park scheme would aim at increasing the scale of operation and value-addition by providing a unique infrastructure facility for textile processing, the weakest link in the whole textile value chain.

Naren Goenka, Chairman AEPC stated that, “PM MITRA will re-establish India’s dominance as a global textiles leader. I am sure that these mega textiles parks with world-class facilities and integrated value chains will create global champions by enhancing apparel exports exponentially and creating massive employment opportunities to the tune of 20 lakh.”

He further added that the PM MITRA will offer a unique opportunity where spinning, weaving, dyeing, printing and stitching will be at a single location. This will drastically reduce the logistics costs and make the apparel sector globally competitive in the true sense of the term by integrating the value chain, creating economies of scale, and making Indian garment exports ESG compliant.

K.M. Subramanian, President, Tirupur Exporters’ Association (TEA) said an eco-system to attract MSMEs in Tirupur to the park should be developed and plug-and-play facilities should be created.

Published On : 18-03-2023

Source : Apparel Resources

e-max.it: your social media marketing partner