Mega Investment Textiles Parks (MITRA) scheme

Central government announced Mega Investment Textiles Parks (MITRA) scheme in the union budget 2021-22. MITRA aims at promoting Indian textile industry. It also aims at making the textile industry globally competitive. Under this scheme 7 textiles parks will be established over a span of 3 years. World class infrastructure with plug and play facilities will be made available thereby boosting the exports. This scheme tends to encourage large investments. MITRA will be launched in line with Production Linked Incentive (PLI). It will generate new employment opportunities in the country. This is a crucial step towards Aatmanirbhar Bharat and it empowers the same vision. The textile ministry is in process to soon get the cabinet approval for the planned MITRA scheme.

Scheme Overview:

Scheme Objectives and Benefits:

• The main objective of the scheme is to establish 7 mega investment textile parks in the country in next 3 years
• Under this scheme textile sector in the economy is at the core
• It aims increase production thereby increasing exports of the textile industry
• It also aims to attract large investments in the Indian textile industry
• It tends to generate employment opportunities in textile and various allied sectors of the economy
• This scheme will also enable increased productivity and innovation
• In the long run, it will impact increased industrial growth ad development

Scheme Details:

• Mega Investment Textiles Parks (MITRA) scheme is a scheme planned and announced by the central government in the union budget 2021-22.
• Under tis scheme the government aims to establish 7 mega investment textile parks in next three years in the country
• It tends to create world class infrastructure with plug and play facilities to boost exports
• Increased domestic production, reduced imports and increased exports will be the base to boost the textiles industry
• It aims to make India a global competitor in textiles industry
• It also aims to attract huge investments as well as increase employment opportunities in textiles and allied sectors
• This scheme will give an opportunity to the domestic manufacturers in the textiles industry to step in the international markets
• It tends to give them a much need exposure to expand their production
• Minister of State Textiles Darshana Jardosh, states that the textile ministry is in process to get a nod of central cabinet for MITRA scheme soon.
• Once the scheme is approved then the finalization of details and funding structures, etc will be done
• This scheme will be launched in line with the Production Linked Incentive (PLI) scheme
• This scheme is indeed a vital step towards Aatmanirbhar Bharat and Make in India mission