Government completes scrutiny on proposals for mega textile parks; soon to come out with location details

Big news for textile sector! The government will likley announce where a new mega textile park will be built. The announcement is likley to come in a month's time. 

- Till now 18 proposals have been received from 13 states

- A Preliminary scrutiny done on all proposals receieved by the government.

- The Central team has completes inspections at all the sites.

- Consultaions with the industry has already been done.

- A meeting was held on 24 May between  Department for Promotion of Industry and Internal Trade (DPIIT), NITI Aayog and Ministry of Textiles

- The government has sought details with respect to certain projects.

- The announcement is likley to come withing a fortnight. 

- The government intends to create 7 mega textile parks under PM MITRA scheme.

- The government has made provisions of Rs 4445 cr for this.

See Zee Business Live TV Streaming Below:

On Monday Zee Business, did a report of how the government was mulling to bring a second edition of a PLI (Production Incentives Linked) scheme for the textile industry, mainly in the garment and apparel segment, citing its top sources.  

Along with man-made fibers and technical textiles, the government also wants to promote khadi through this scheme, where the budget provision of Rs 4000 crore is likely to be allocated, said the sources. 

Also Read: PLI scheme: Government eyes 2nd edition for textile industry in garments & apparel segment; KPR Mills, Vardhman Textiles, others gain 

The Ministry of Textiles held a meeting with the industry stakeholders on May 17, 2022 and aims to complete the approval and cabinet process soon by August-September and mostly by October the scheme will be implemented.