The memorandum of understanding (MoU) will be signed in Surat in the presence of state Chief Minister Bhupendra Patel and Union Minister of Commerce and Industry Piyush Goyal
Ahmedabad: The Centre and the Gujarat government will on Thursday sign and an MoU for PM Mega Integrated Textile Regions and Apparel (PM MITRA) park for the textile industry to be set up in Navsari district of the state, officials said on Wednesday.
The PM Mitra Park will come up at Vansi-Borsi village on nearly 462 hectares of land, they said.
The memorandum of understanding (MoU) will be signed in Surat in the presence of state Chief Minister Bhupendra Patel and Union Minister of Commerce and Industry Piyush Goyal.
“The Government of India, under the leadership of Prime Minister Narendra Modi, approved the establishment of seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) parks for the textile industry in seven states namely,” a release by the government said.
These seven states are Gujarat, Maharashtra, Tamil Nadu, Telangana, Karnataka, Madhya Pradesh and Uttar Pradesh, it said.
The Gujarat Industrial Development Corporation (GIDC) will develop the PM Mitra Park in Navsari. The land for the same, in an area of 462 hectares, has been allocated to the GIDC by the state government, in accordance with the guidelines of the Centre, the release said.
The central government will provide an assistance of 30 per cent, that is up to Rs 500 crore from the total outlay of Rs 1,500 crore for infrastructure development, it said.
“PM Mitra Park will lead to the establishment of world-class industrial infrastructure to attract large-scale investment, including Foreign Direct Investment (FDI). In addition, it will also encourage innovation and job creation within the textile and its allied sector,” it said.
The state will get an estimated investment of Rs 10,000 crore and generate 2-3 lakh direct and indirect employment in the textile and its allied sector, it said.
“The Gujarat government is in the process of creating a Special Purpose Vehicle (SPV) for the construction of this park. The state government will have 51 per cent equity and the central government will have 49 per cent equity,” the statement said.
This park will also see the development of common facility centres, such as material handling facilities, training and skill development centre and testing centres, it said.
The PM MITRA Parks are a significant step forward in realising the government’s vision of making India a global hub for textile manufacturing and exports, it added.
“These parks will enhance the competitiveness of the textiles industry by helping it achieve economies of scale as well as attract global players to manufacture in India,” it further said.
