The Centre and the Gujarat government have signed a memorandum of understanding (MoU) for PM Mega Integrated Textile Regions and Apparel (PM MITRA) Park in Navsari district of the state.
The Gujarat Industrial Development Corporation (GIDC) will develop the park in Navsari which will come up at Vansi-Borsi village on nearly 462 hectares of land.
The central government will provide an assistance of 30 percent, that is up to Rs 500 crore ($61 million) from the total outlay of Rs 1,500 crore for infrastructure development.
“PM Mitra Park will lead to the establishment of world-class industrial infrastructure to attract large-scale investment, including Foreign Direct Investment (FDI). In addition, it will also encourage innovation and job creation within the textile and its allied sector,” the government said in an official statement.
“The state will get an estimated investment of Rs 10,000 crore and generate 2-3 lakh direct and indirect employment in the textile and its allied sector,” it added.
The PM MITRA Parks have been planned by the government with the vision of making India a global hub for textile manufacturing and exports.
The Government of India has planned seven PM MITRA parks in the states of Gujarat, Maharashtra, Tamil Nadu, Telangana, Karnataka, Madhya Pradesh, and Uttar Pradesh.
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