The Ministry of Textiles (MoT) has said that the factories that are the first to set up at PM Mega Integrated Textile Regions and Apparel (PM MITRA) scheme will get incentives of 3 per cent of their revenue.
There are seven PM MITRA Parks that are set to come up in Tamil Nadu, Madhya Pradesh, Telangana, Gujarat, Karnataka, Uttar Pradesh and Maharashtra.
Leading business daily Mint quoted Textile Secretary Rachna Shah saying that the Centre will be providing incentive support to the manufacturing factories that would come first – the first movers. They will be incentivised to the tune of 3 per cent of the revenue. For example, if there is an anchor investor, who brings in investment of Rs.300 crore to a park, then there will be an incentive that can be Rs.10 crore per year with a cap of Rs.30 crore.
She also said that issues related to the availability of reliable power supply and the quality of power is important for any industrial park and the Central Government has had discussions about this with the states.
She added, “We’ve discussed in detail with the states about their industrial policy and their textile policy and whether they would be offering any special incentives. Most of the states have their own policy framework for assured power and water supply.”
