Each park is expected to attract approximately Rs 100 billion, contributing to a total of around Rs 700 billion.
In a significant boost for India’s textile industry, the seven mega textile parks established under the PM MITRA scheme are expected to attract an investment of Rs 950 billion over the next three to five years. Textiles Secretary Rachna Shah announced this promising projection, emphasiing the transformative potential of the scheme in conjunction with the Production-Linked Incentive (PLI) initiative for man-made fabrics and technical textiles.
The mega parks, strategically located in Tamil Nadu (Virudhunagar), Telangana (Warangal), Gujarat (Navsari), Karnataka (Kalburgi), Madhya Pradesh (Dhar), Uttar Pradesh (Lucknow/Hardoi), and Maharashtra (Amravati), are anticipated to generate substantial investment. Each park is expected to attract approximately Rs 100 billion, contributing to a total of around Rs 700 billion, while the PLI scheme is projected to bring in an additional Rs 250 billion for technical textiles and man-made fibres.
Shah elaborated that the investments would not be confined to these schemes alone; she indicated that foreign direct investment (FDI) and other funding sources would also play a pivotal role in invigorating the sector.
She noted that much more substantive outcomes are being anticipated from the Bharat Tex 2025 mega textiles event scheduled for February next year, which is expected to yield not only Memoranda of Understanding (MoUs) but also business and investment opportunities.
The PLI scheme, approved by the government in 2021 with a financial outlay of Rs 106.83 billion, aims to stimulate the production of man-made fabrics and technical textile products over five years. This initiative underscores the government’s commitment to enhancing India’s position in the global textile market, particularly in ‘sunrise sectors’ that include man-made fabrics and technical textiles.
P Kumaran, Special Secretary in the Ministry of External Affairs, expressed excitement about the upcoming Bharat Tex 2025 event, which is set to be even larger than its predecessor held in 2024. Scheduled for February 14-17, the event aims to foster collaboration between domestic and international stakeholders. Kumaran urged foreign missions in India to engage actively, stating that Bharat Tex represents a unique opportunity to tap into the vibrancy and creativity of Indian textiles, providing access to markets and export channels worldwide.
As India positions itself as a global textile hub, the successful implementation of these mega parks and related initiatives is expected to catalyze unprecedented growth in the sector, paving the way for innovation, investment, and international partnerships.