MITRA parks tips in 30-45 days: Textile secretary

The federal government will challenge the rules for the Prime Minister’s Mega Built-in Textile Area and Attire (MITRA) scheme within the subsequent 30-45 days , textile secretary Upendra Prasad Singh advised ET.

The textiles ministry will first notify the scheme and challenge the rules within the subsequent one to one-and-a-half months after which, states would submit their preliminary venture experiences.

Beneath the MITRA scheme, particular goal autos (SPVs) shall be arrange with 49% central authorities stake and 51% holding by the respective state which might personal the mega parks. Nevertheless, these shall be given on a 50-year lease to the grasp developer.

“The grasp developer will execute the tasks and a concession settlement can be signed with the SPV. We’re assured that international corporations too will make investments,” Singh mentioned, including that the complete course of must be accomplished by 2026.

Singh mentioned a number of states have been eager to arrange such parks, however have been but to point their desire.

“Whereas states have evinced curiosity, no state has clearly mentioned if their parks shall be greenfield or brownfield,” he mentioned

The states can be judged on standards resembling connectivity with industrial corridors, their textile and industrial insurance policies, and labour legal guidelines, the secretary mentioned.

Singh mentioned that below the prevailing Scheme for Built-in Textile Park (SITP), 66 parks have been sanctioned, of which 10 have been cancelled however the remainder shall be accomplished.