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1st Pm Mitra Park Comes Up In Virudhunagar Dist, Retail News, ET Retail

by TopBusinessView


1st PM MITRA Park comes up in Virudhunagar dist

Chennai: India’s first PM MITRA Park (Pradhan Mantri Mega Integrated Textile Region and Apparel Park) was launched in Virudhunagar district on Wednesday with the Centre and the state government signing an agreement.

Eleven firms have also signed MoUs to establish their units with a total investment of 1,231 crore in the park generating 6,315 jobs. It will come up on 1,052 acres at E. Kumaralingapuram village offering plug-and-play facilities as part of an integrated value chain.

Addressing the gathering on the occasion, chief minister M K Stalin said, Tamil Nadu accounts for one-third of the country’s handloom production. “The infrastructure would be developed at a cost of 2,000 crore, which includes 500crore subsidy provided by the Union government. It will generate employment opportunities for two lakh youngsters when the park is fully operational.”

He also sought the Centre’s assistance for a new textile park at Salem through Scheme for Integrated Textile Parks (SITP) and integrated processing development scheme (IPDS). Earlier, Union Minister for commerce and industry and textiles Piyush Goyal said, seven PM MITRA Parks are coming up in different parts of the country.

“These parks are expected to attract 70,000 crore investments and provide jobs for 20 lakh people. It will give a boost to our textile sector and expand our export competitiveness,” he said.


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