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The Government has proposed a scheme of Mega Investment Textiles Parks (MITRA) to enable the textile industry to become globally competitive, attract large investments, boost employment generation and exports.

MITRA will be launched in addition to the Production Linked Incentive Scheme(PLI).

Significance

• It 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.
• MITRA will give our domestic manufacturers a level-playing field in the international textiles market & pave the way for India to become a global champion of textiles exports across all segments
• This will create world class infrastructure with plug and play facilities to create global champions in exports. 7 Textile Parks will be established over 3 years.

Similar Parks

• Such parks have already been present in nations like China and Vietnam which help give a thrust to the textile sector.
• India has been losing its competitive edge to Bangladesh and Vietnam owing to their low labour costs, wider scale of operations and the Free Trade Agreement (FTA) advantage enjoyed by them.
• With the textile sector being the second largest employment generator in the country after agriculture, the Budget announcements mean a significant step forward for the industry.