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SITP scheme to be continued in 11th five year plan
20 Mar '08
3 min read
However, aggregate investment in land, factory buildings and Plant & Machinery by the entrepreneurs in a Park shall be at least twice the cost of common infrastructure proposed for the Park.
- The ITPs may also be set up in the Special Economic Zones (SEZs), in which case the special provisions of SEZs would be applicable for them.
In case these are set up outside SEZs, proposal may be pursued with the Ministry of Commerce & Industry to declare the ITP as SEZ, if it is so desired.
- The Scheme is co-terminus with the 11th Plan period (20076-12).
Ten Textile Parks Project will be approved at the first instance. This will facilitate additional investment, employment generation and increase in textile production.
Industry Associations / Groups of Entrepreneurs would be the main promoters of the Textiles Park by forming a Special Purpose Vehicle (SPV) for implementation / management of the project.
Ministry of Textiles has engaged eight (8) Project Management Consultants (PMCs) who will help the promoters in formation of SPV, preparation of detailed project reports, etc, for which Ministry of Textiles will pay fee to the PMCs.
With a view to provide the industry with world-class infrastructure facilities for setting up their textile units, the Scheme for Integrated Textile Park was approved in July 2005 to create new textile parks of international standards at potential growth centers.
As per thetarget for the 10th Five year Plan, 30 Textiles projects have been approved. There has been overwhelming response to the scheme.
- The ITPs may also be set up in the Special Economic Zones (SEZs), in which case the special provisions of SEZs would be applicable for them.
In case these are set up outside SEZs, proposal may be pursued with the Ministry of Commerce & Industry to declare the ITP as SEZ, if it is so desired.
- The Scheme is co-terminus with the 11th Plan period (20076-12).
Ten Textile Parks Project will be approved at the first instance. This will facilitate additional investment, employment generation and increase in textile production.
Industry Associations / Groups of Entrepreneurs would be the main promoters of the Textiles Park by forming a Special Purpose Vehicle (SPV) for implementation / management of the project.
Ministry of Textiles has engaged eight (8) Project Management Consultants (PMCs) who will help the promoters in formation of SPV, preparation of detailed project reports, etc, for which Ministry of Textiles will pay fee to the PMCs.
With a view to provide the industry with world-class infrastructure facilities for setting up their textile units, the Scheme for Integrated Textile Park was approved in July 2005 to create new textile parks of international standards at potential growth centers.
As per thetarget for the 10th Five year Plan, 30 Textiles projects have been approved. There has been overwhelming response to the scheme.
Press Information Bureau Government of India
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