Centre approves setting up 7 PM MITRA Parks at Rs. 4,445 crore in 5 years

In order to build an Aatmanirbhar Bharat and to position India strongly on the Global textiles map, the Government has approved the setting up of 7 PM MITRA parks as announced in the Union Budget for 2021-22.

PM MITRA is inspired by the 5F vision of the Prime Minister. The ‘5F’ Formula encompasses – Farm to fibre; fibre to factory; factory to fashion; fashion to foreign. This integrated vision will help furthering the growth of the textile sector in the economy. No other competing nation has a complete textile ecosystem like us. India is strong in all five Fs.

These parks will be setup at Greenfield and Brownfield sites in different States by a Special Purpose Vehicle which will be owned by State Government and Government of India in a Public Private Partnership (PPP) Mode. The total outlay for the project has been set at Rs 4,445 crore for five years.