CURRENT AFFAIRS
Get the most updated and recent current affair content on Padhaikaro.com
MEGA INVESTMENT TEXTILES PARKS (MITRA) SCHEME
- Be N By IAS, Delhi
- 04, Feb 2021
For : GS-3: Economy
CONTEXT:
Finance Minister Nirmala Sitharaman in Budget 2021-22 announced that a scheme of mega investment textile parks will be launched in addition to the PLI scheme.
ABOUT THE SCHEME:
- Aim:
- To double the textile industry size to USD 300 billion by 2025-26.
- To make textile industry to become globally competitive, attract large investments, boost employment generation and exports.
- Key Features:
- There is a plan to establish Seven textile parks over three years.
- These textile parks will have a world-class infrastructure.
- It will be set up over 1,000 acres of land with plug-and-play facilities.
SIGNIFICANCE:
- Emphasis on state-of-the-art infrastructure through MITRA will give our domestic manufacturers a level-playing field in the international textiles market.
- It will pave the way for India to become a global champion of textiles exports across all segments”
- (MITRA) will be a game changer for the Indian Textiles Industry. Along with the Production Linked Incentive (PLI) scheme, MITRA will lead to increased investments and enhanced employment opportunities.