PM MITRA (Mega Integrated Textile Region and Apparel) Parks Scheme
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Question 1
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Consider the following statements with reference to the PM MITRA (Mega Integrated Textile Region and Apparel) Parks Scheme:
1. The Special Purpose Vehicle (SPV) for each PM MITRA Park is required to be fully owned by the Central Government to ensure centralized decision-making.
2. Manufacturing units in PM MITRA Parks can simultaneously avail incentives under both the PM MITRA Scheme and the Production Linked Incentive (PLI) Scheme for Textiles.
3. Sites for PM MITRA Parks are selected through a Challenge Method based on objective criteria such as availability of encumbrance-free land of at least 1000 acres.
How many of the above statements are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Explanation
Ministry of Textiles (MoT) has launched PM Mega Integrated Textile Regions and Apparel Parks (MITRAs) Scheme to strengthen the Indian textile industry by way of enabling scale of operations, reduce logistics cost by housing entire value chain at one location, attract investment, generate employment and augment export potential. The scheme will develop integrated large scale and modern industrial infrastructure facility for total value-chain of the textile industry for example, spinning, weaving processing, garmenting, textile manufacturing, processing & printing machinery industry. These parks are envisaged to be located at sites which have inherent strengths for textile industry to flourish and have necessary linkages to succeed. The scheme envisages to leverage Public Private Partnership model for fast paced implementation in a time-bound manner.
Statement 1 is incorrect: The SPV is not fully owned by the Central Government. A Special Purpose Vehicle (SPV) owned by Centre and State Government jointly will be set up for ach park which will oversee the implementation of the project.
Statement 2 is incorrect: A Competitive Incentive Support (CIS) of up to Rs. 300 crores per park will incentivize early operationalization and quick scale up. The CIS will be Fund Limited and it will be available on a first come first serve basis. The incentives will only be available to those manufacturing companies who are not availing benefits of Production Linked Incentive (PLI) for Textile Scheme
Statement 3 is correct: Sites for PM MITRA Parks will be selected by a Challenge Method based on objective criteria. PM MITRA Parks will be set up on the basis of proposals received from State Governments having ready availability of contiguous and encumbrance-free land parcel of minimum1000 acres
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