(MENAFN- KNN India) New Delhi, May 6 (KNN) In a significant development for India's textile industry, the upcoming Mega Integrated Textile Region and Apparel (MITRA) Park in Madhya Pradesh's Dhar district is poised to attract substantial investment, according to Union Textiles Minister Piyush Goyal.
Speaking at the launch event for the MITRA park on Sunday, Goyal stated that the project could see an investment of approximately Rs 6,850 crore (USD 840 million) in the Dhar district alone.
Additionally, other regions in the state may receive investments totaling Rs 8,675 crore (USD 1.06 billion), Goyal said.
The MITRA park, spanning 1,563 acres in Bhensola village, is expected to generate substantial employment opportunities, with estimates suggesting 50,000 direct and 1.5 lakh (150,000) indirect jobs.
The site's strategic location, within proximity to major industrial hubs and transportation networks, further enhances its appeal to investors.
The Central Government has ambitious plans to establish seven MITRA parks across the country, having received 13 proposals thus far. These parks, each spanning over 1,000 acres, will collectively require a total outlay of Rs 4,445 crore (USD 545 million) over five years.
To streamline the process, the Textiles Ministry has signed Memorandums of Understanding (MoUs) with the states of Karnataka, Uttar Pradesh, and Tamil Nadu. These MoUs have proposed investments worth Rs 5,000 crore (USD 612 million), bringing the total proposed investments across four MITRA parks to approximately Rs 12,000 crore (USD 1.47 billion).
According to an official release, the PM MITRA Parks are a pivotal step towards realising the government's vision of transforming India into a global hub for textile manufacturing and exports.
Inspired by the Prime Minister's '5F' vision – Farm to Fibre to Factory to Fashion to Foreign – these parks aim to bolster the nation's textile sector and strengthen its position in the global market.
(KNN Bureau)
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