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The Union Cabinet has approved the construction of seven mega textile parks as part of the PM Mitra Yojana initiative. Prime Minister “PM Mitra Yojana” seeks to improve Indian textiles and the condition of its workers. So that the textile industry may profit from the Mega Textile Park, the government would invest Rs 4445 crore in this. The government plans to use Mega Textile Park to assist the textile sector, and this article will explain the advantages of this plan in the future years. In this detailed article, you will learn about PM Mitra Yojana and the motto of Fibre to Factory, Textile, and Fashion.
What is PM Mitra Yojna?
The textile industry is one of the main drivers of the Indian economy, and it accounts for many of our exports and employs millions of people. Lately, the textile industry has been in the news for the wrong reasons, with several factories being shut down due to owners’ and management’s alleged violations of labour laws. There have also been reports of workers getting injured in these factories.
The central government is making many efforts to help the country grow and get more business. The government keeps coming up with new ways to do this from time to time. The government has put out a plan like this. It is called the PM Mitra Yojana. Under the plan, citizens can get training and financial help. Financial help is also given to citizens.Â
The PM Mega Integrated Textile Regions and Apparel Parks (MITRAs) Scheme was launched by the Ministry of Textiles (MoT) in 2021 to strengthen the Indian textile industry. This is done by enabling the scale of operations, reducing logistics costs by housing the entire value chain in one location, attracting investment, creating jobs, and increasing export potential.
The Prime Minister’s 5F vision has been a source of inspiration for PM MITRA. Farm to fibre, fibre to factory, factory to fashion, and fashion to foreign components of the ‘5F’ Formula.
It strives to realise the objective of creating an Aatmanirbhar Bharat and establishing India as a global textiles powerhouse.
Features of PM Mitra Yojna
The following are its goals and characteristics listed down below:
- This plan will employ seven million people directly and fourteen million indirectly
- Choose the locations for these parks. A competition will be held
- These parks will have everything you need to weave, dye, and spin cotton into textiles
- 50% of the area will be for manufacturing and 10% for commercial use
- National and state governments will establish these parks using SPGs
- Greenfield zones would get 500 crores, while brownfield sectors would get 200 crores
- All park facilities will cut travel costs
- This initiative improves the global status of U.S. workers and enterprises
The PM Mitra Yojana Budget
As part of the PM Mitra program, the government would provide 500 billion rupees to develop greenfield parks and another 200 billion rupees to build brownfield parks. In addition, a factory specialising in clothing production will also be established very soon, and the facility’s cost will be 300 billion rupees.
The PM Mitra Yojna Objective
The PM Mitra Yojana seeks to promote the textile industry. This initiative will enhance clothing production and supply, and this strategy will create jobs. After the program’s full deployment, more than 7 lakh people will have direct work opportunities, and fourteen lakh people will get direct jobs.
These projects were previously done in different sections of the state at a high cost, but now they will be done in greenfield and brownfield locations. The government will invest 200 crores in a brownfield park and 300 crores in the industry.
The Benefit of PM Mitra Yojna
- The government aims to employ more than 21 lakh people under this plan
- India could compete with other nations in textile manufacturing after adopting this strategy when large-scale garment manufacturing is done in India
- This initiative would build large textile parks, boosting India’s textile industry and economy
- The common citizen will benefit most from this policy, as they will be obliged to work in its firms. Tens of thousands of employees will be hired
- Every hamlet and city will benefit from large-scale fabric manufacture, and people’s lives will improve
Conclusion
The national government is engaged in several activities to foster economic growth and advancement and expand commercial activity. The government has established a program known as the PM Mitra Yojana, which is a plan similar to this one.Â
Citizens get various benefits, from training to financial support, as a result of the programme, including financial aid. Implementing the strategy would make advancements in the industrial and textile industries. Under this plan, the government will build a brand-new textile park from the ground up. In this article, you learned about PM Mitra Yojana and the motto of fibre to factory, textile, and fashion.
