MoU signed for MP's mega textile park; to draw investment of ₹6,850 cr

22 May '23

3 min read

India's textile minister Piyush Goyal at the launch of PM Mitra Park in MP with MoS for textiles Darshana Jardosh and MP CM Shivraj Singh Chouhan. Pic: Twitter/@PiyushGoyal

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India's textiles minister Piyush Goyal has begun the process of setting up another Mega Textile Park in Madhya Pradesh.
Expected to draw an investment of ₹6,850 crore, the park will be developed on 1,200 acres over the next 5 years and is projected to create around 200,000 jobs.
An MoU has been signed between state and central governments for the park.

India's textiles minister Piyush Goyal has officially begun the process of establishing another Mega Textile Park in the Dhar district of Madhya Pradesh (MP). The textile park is projected to draw an investment of ₹6,850 crore. During an event on Sunday, a memorandum of understanding (MoU) was signed between the state and central governments for the textile park. Both Goyal and state chief minister (CM) Shivraj Singh Chouhan laid the foundation stone for the PM Mitra Park at Gandhwani in Dhar district.

Goyal anticipates an additional ₹8,675 crore investment in other areas of the state. The textile park, which will be developed on 1,200 acres of land over the next five years, was formalised by an MoU signed by CM Chouhan and minister Goyal.

During the event, the CM expressed gratitude to Prime Minister Narendra Modi for the PM Mitra Textile Park, stating that it was an exceptional gift for Madhya Pradesh. He estimated that around 200,000 individuals would find employment through the textile park. On this occasion, Darshana Vikram Jardosh, the minister of state (MoS) for textiles, remarked that the park is a fantastic opportunity for Madhya Pradesh's textile sector. Several textile companies signed agreements to establish factories in the proposed park, with approximately 150 investors from across India attending the event.

The park's location is 110 km from Indore and 85 km from the Pithampur Industrial Cluster, and 452 km from the nearest port, Hazira. The Madhya Pradesh Industrial Development Corporation (MPIDC) will provide power at ₹4.50 per unit and water from the Mahi Dam at ₹25 per KL. The park is expected to generate direct employment for 50,000 people, indirect employment for 150,000 people, and benefit the entire Malwa region.

The initial procedures are being coordinated and facilitated by the MPIDC, the state government-owned industrial development company. A Special Purpose Vehicle (SPV) will oversee the park's development and operations. The park will house advanced facilities catering to the industry's needs, such as residential apartments for the workforce, a common facility, logistics and commercial spaces, and other amenities. It will provide plug and play facilities, a training centre, logistics, commercial space, health services, and meet basic and advanced industry requirements.

Prime Minister Modi said in a tweet that the new Mega Textile Park at Dhar district in Madhya Pradesh will strengthen Make in India and will create new job opportunities for the youth. He said that the park will open new doors for the growth of the state.

Fibre2Fashion News Desk (KUL)

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