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PM MITRA is inspired by the 5F vision of the Prime Minister, which includes- Farm to fibre, fibre to factory, factory to fashion, fashion to foreign
In a mission to build an Aatmanirbhar Bharat and position India strongly on the global textiles map, the Government has approved the setting up of 7 PM MITRA parks as announced in the Union Budget for 2021-22. PM MITRA is inspired by the 5F vision of the Prime Minister. The ‘5F’ Formula encompasses – Farm to fibre; fibre to factory; factory to fashion; fashion to foreign. This integrated vision will help to further the growth of the textile sector in the economy.
PM MITRA will be set up at greenfield/brownfield sites located in different willing States.
The maximum development capital support (DCS) of Rs 500 crore to all Greenfield PM MITRA and a maximum of Rs 200 crore to Brownfield PM MITRA will be provided for the development of common infrastructure at 30% of the project cost and Rs 300 crore of Competitiveness Incentive Support (CIS) will also be provided to each PM MITRA park for early establishment of textiles manufacturing units in PM MITRA. State Government supports will include the provision of 1,000-acre land for the development of a world-class industrial estate.
For a Greenfield PM MITRA park, the GOI Development Capital Support will be 30% of the project cost, with a cap of Rs 500 crore. For Brownfield sites, after assessment, Development Capital Support at 30% of project cost of balance infrastructure and other support facilities to be developed and restricted to a limit of Rs. 200 Crore. This is in a form of viability gap funding to make the project attractive for the participation of the private sector.
(With inputs from Press Information Bureau)