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Mega textile parks to be set up near ports

Sep 21, 2021
Mega textile parks to be set up near ports

India 

The Centre will grant incentives to investors to set up mega textile parks with plug-and-play facilities over large areas of at least 1,000 acres each according to textiles secretary UP Singh.

 

The parks will preferably be close to ports and house all sorts of textile and garment firms, including integrated facilities, to create a robust eco-system. The move is aimed at “building scale” across the textiles and garment value chain that has remained fragmented for decades. Singh said it will also complement the recently-approved Rs 106.38 billion production-linked incentive (PLI) scheme for man-made fibre and technical textiles segments.


The investors will not just build infrastructure but even manage maintenance and other related facilities. They will be given to operate the park for a period of 25-30 years and they can collect fees from the companies that set up units there. Even small firms or fashion designers will be able to set up shop quickly, thanks to the plug-and-play facilities, Singh said. Such mega parks will be able to better draw overseas buyers by offering a broad range of products and cater for large orders, given the greater synergy among its resident entities.

 

The selection criteria could include the proximity of the land to ports, raw material availability and modes of transportation, among others. The mega parks are the latest in a series of attempts made by the government to promote formalisation and build scale in the labour-intensive sector that has been hamstrung by millions of small units, supported by lackadaisical official policies for decades.

The textile secretary expected that with a raft of initiatives undertaken by the government in recent years including the announcement of the PLI scheme.

 

Source: Financial Express

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