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Textile Parks News: Modi government has announced the creation of a mega textile park to give a boost to the textile industry. Finance Minister Nirmala Sitamaran has announced a special scheme for textiles sector in the General Budget 2021-22.
- Last Updated:February 2, 2021, 1:06 AM
Announcing the launch of the mega textile scheme in the budget speech, Finance Minister Nirmala Sitharaman said, “The scheme will be launched to invest on a large scale in the textiles sector. This production will be in addition to Linked Incentive (PLI). He further informed that under this scheme 7 mega textile parks will be built in the next 3 years. All types of integrated facilities will be available in these textile parks, so that the loss due to transportation can be minimized. Also, there is a plan to attract investment through this scheme so that India can compete with other leading countries in textile exports.
It is worth noting that the Ministry of Textiles had said a few days ago to consider the Mega Integrated Textile Region Andal Apparel (MITRA) Park Scheme. It was said to consider developing them on 1,000 acres. Approval has been given to develop 59 such textile parks, out of which 22 have already been completed. Apart from research and research, facility of modern lab will also be available here. Explain that the PLI scheme was announced for 10 sectors including textiles and automobiles.