New Delhi: Prime Minister Narendra Modi inaugurated India’s first functional PM MITRA Park in Warangal, Telangana, on Sunday, developed at a cost of Rs 1,695.54 crore.
The Park is poised to become a key driver of India’s textile growth story, with over Rs 6,000 crore in expected investment and significant progress already underway, with 62 per cent of the park already allotted, the Textile Ministry said in a release.
Spread across 1,327 acres, the park is set to generate large-scale opportunities across the textile value chain, with over 24,400 jobs expected to be generated and thousands of jobs already created.
Under the PM MITRA Scheme, the government has approved seven sites for setting up of PM MITRA Parks, one each in Karnataka, Madhya Pradesh, Maharashtra, Tamil Nadu, Telangana, Uttar Pradesh and Gujarat.
The PM MITRA Parks are envisaged as modern, large-scale and integrated parks covering the entire value chain. The PM MITRA operationalises the Government of India’s 5F vision – Farm to Fibre to Factory to Fashion to Foreign.
Inaugurating the project, the Prime Minister said that the PM Mitra Park in Warangal will accelerate the textile revolution in the country, creating large scale employment opportunities especially for the women.
The park offers excellent multimodal connectivity to major railway networks and seaports, ensuring seamless logistics for global trade, the ministry said. Designed as a world-class industrial ecosystem, the park is equipped with modern infrastructure, including an extensive internal road network, a dedicated power substation and an assured water supply.
Industries being set up in the park will not only have access to world-class infrastructure facilities for the textile sector (benchmarked against textile mega parks globally) but also receive Competitive Incentive Support (CIS) under the PM MITRA scheme.
A fund of Rs 300 crore has been allocated to each park to make them more attractive to investors.
Units in the PM MITRA parks are also eligible for benefits in convergence with other Government of India schemes.
