Budget unveils scheme for setting up mega textile parks in India, Retail News, ET Retail

Davida Erdahl

(Agent graphic)

New Delhi, The federal government on Monday unveiled a scheme for location up mega textile parks in the place, as portion of the Centre’s endeavours to place India as a entirely integrated, globally aggressive manufacturing and exporting hub for the sector. Finance Minister Nirmala Sitharaman made the announcement even though presenting the Spending budget 2021-22 in Parliament.

“A scheme of mega expenditure textile parks will be introduced in addition to the PLI scheme,” Sitharaman claimed.

She knowledgeable that 7 mega textile parks will be introduced in 3 yrs as portion of the scheme.

The mega textile parks will have integrated services and speedy turnaround time for reducing transportation losses, eyeing major-ticket investments in the sector.

The textile ministry had not long ago claimed a scheme and a Mega Built-in Textile Location and Clothing (MITRA) Park, in in excess of 1,000 acres of land with condition-of-the-art infrastructure, common utilities

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