Home: Govt. Approves 21 New Textiles Parks at Cost of Rs 2100 Crores .

The Government has sanctioned 21 new Textiles Parks in the country, at a project cost of Rs 2100 crore, to be implemented in 36 months.
 
The new parks have been sanctioned under the Scheme for Integrated Textiles Parks (SITP)by Union Minister for Commerce, Industry and Textiles Anand Sharma, who is the chairman of the Project Approval Committee under the scheme.
 
The approval was given on the recommendations of the Inter-Ministerial Project Scrutiny Committee, which examined 55 proposals for new Textiles Parks in the country.
 
The scheme seeks green field investments in the textiles sector on a public private partnership (PPP) basis with the objective of setting up world class infrastructure for the textiles industry.
 
"The sanction of new Textiles Parks will catalyze significant additional investments with industry utilizing the benefits both under the Scheme for Integrated Textiles Parks for development of common infrastructure; and under the Technology Upgradation Funds Scheme (TUFS) for installation of Plant and Machinery," Mr Sharma said.
 
He said the Government had enhanced the allocation under TUFS from Rs. 8000 crores to Rs. 15404 crores under the 11th Five Year Plan and under the SITP an allocation of Rs. 400 crores has been made for sanction of new Textiles Parks in April 2011.
 
Mr Sharma said the new parks would leverage an investment of over Rs. 9000 crores and provide employment to 4 lakh textiles workers. The Government would finance common infrastructure with a subsidy upto Rs. 40 crores per park, he said.
 
An official press release said the Government had received a huge response to the roadshows held in Chennai, Bangalore, Hyderabad, Ahmedabad and Mumbai for seeking proposals forTextiles Parks under the SITP.
 
Proposals received were scrutinized by an inter ministerial Project Scrutiny Committee on the basis of project cost, land size, net worth of investors, employment generation and value chain to be developed by the industry.
 
The Government also sought to ensure balanced regional development, promote textiles industry in North Eastern States and in States where the industry is in a nascent stage of development and promote textiles parks in the cooperative and handloom sectors, it said.
 
Of the new Textiles Parks, 6 have been sanctioned in Maharashtra, 4 in Rajasthan, 2 each in Tamil Nadu and Andhra Pradesh, and 1 each in Uttar Pradesh, Gujarat, Tripura, Himachal Pradesh, Karnataka, Jammu & Kashmir and West Bengal.
 
The product mix in these parks would include apparels and garments parks, hosiery parks, silk parks, processing parks, technical textiles including medical textiles, carpet parks, and powerloom parks.
 
“The focus of Government has been to ensure value addition through aggregation to best utilize India’s raw material surplus in cotton and cotton yarn for enhanced labour employment and export earnings," Mr Sharma said.
 
Lead Investors heading the Special Purpose Vehicles of the new Textiles Parks and the Project Management Consultant firms would be invited by Government in the coming days to enter into MoUs for implementing the projects.
 
The release said the Government wanted to ensure timely implementation of the sanctioned projects and changes to avoid cost and time overruns have been incorporated into the MoUs to be entered into by Government under the scheme.
 
Mr Sharma said that, given the considerable demand for Textiles Parks in the country and given the success of the Scheme in the 11th Five Year Plan, the Textiles Ministry would be seeking a higher allocation under the 12th Five Year Plan.
 
Of the 40 textiles parks sanctioned under the 11th Five Year Plan, 24 Textiles Parks have started operations and have attracted investments of Rs. 18880 crores, with a Government subsidy of Rs. 1420 crores, he added.

Source : netindian.in