Home » Textiles & Apparels » Govt. announces launch of Mega Investment Textiles Parks scheme to make Indian textile industry globally competitive

Govt. announces launch of Mega Investment Textiles Parks scheme to make Indian textile industry globally competitive

The Government has proposed a scheme of Mega Investment Textiles Parks (MITRA) to enable the textile industry to become globally competitive, attract large investments, boost employment generation and exports. Presenting the Union Budget  2021-22 in the parliament today, Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman said that this will create world class infrastructure with plug and play facilities to enable create global champions in exports. MITRA will be launched in addition to the Production Linked Incentive Scheme(PLI).

 

http://static.pib.gov.in/WriteReadData/userfiles/image/image002M61S.jpg

 

Commenting on Mega Investment Textiles Parks, Union Textiles and Women and Child Development Minister, Smt. SmritiZubinIrani said in a tweet, “(MITRA) will be a game changer for the Indian Textiles Industry. Along with the Production Linked Incentive (PLI) scheme, MITRA will lead to increased investments and enhanced employment opportunities.

In another tweet she said, “Emphasis on state-of-the-art infrastructure through MITRA will give our domestic manufacturers a level-playing field in the international textiles market & pave the way for India to become a global champion of textiles exports across all segments”.

Mentioning about the need to rationalize duties on raw material inputs to man-made textile, the Finance Minister announced of bringing nylon chain on par with polyester and other man-made fibers. Announcing uniform deduction of the BCD rates on caprolactam, nylon chips and nylon fiber and yarn to 5 per cent, the Minister said that the move will help the textile industry, MSMEs and exports too.

 

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

EPCH Participates in INDEX DESIGN FAIR 2022 at Dubai, UAE

Export Promotion Council for Handicrafts (EPCH) set-up an exclusive Handicrafts of India pavilion along with member ...

Textiles &Apparel  Exports  register 52%  Growth in April – December 2021over last year’s Corresponding Period

Production Linked Incentive (PLI) Scheme for Textiles has been notified with a budgetary outlay of ...

About 1714 India Handloom Brand Products Registered,

The India Handloom Brand (IHB) was launched for branding and promotion of high quality, niche ...

Mega Integrated Textile Region and Apparel (PM MITRA) Parks to attract investment, boost employment generation

With a view to attract investment, boost employment generation and position itself strongly in the ...

Manufacturing Sectors should not depend on Government support for growth- Shri Goyal.

“Resolve Cotton Pricing issue in the spirit of Collaboration rather than competition,” said Shri Piyush ...

Government approves continuation of Rebate of State and Central taxes and Levies (RoSCTL) on Export of Apparel/ Garments and Made-ups

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval ...

Integrated Scheme for Development of Silk Industry

The Govt. of India through Central Silk Board has been implementing a Central Sector Scheme ...

Shri U P Singh Assumes Charge of Secretary in Textiles Ministry

Shri U. P. Singh, a 1985 batch Indian Administrative Service Officer (IAS) of Odisha Cadre has taken over ...

Textiles Committee, Ministry of Textiles signs MoUwith M/s Nissenken Quality Evaluation Centre, Japan to boost export of Textile and Apparel to Japanese market Posted On: 27 JAN 2021 6:39PM by

A formal Memorandum of Understanding (MoU) signing ceremony was heldbetween Textiles Committee, Ministry of Textiles, ...

New Textile Policy – 2020

Government is formulating a New Textile Policy for overall development of the sector. Inputs from ...

WP2Social Auto Publish Powered By : XYZScripts.com