Piyush Goyal proposes Invest India desk for Indian textile sector

22 Jun '23

3 min read

Indian minister Piyush Goyal. Pic: Twitter/@PiyushGoyal

Insights

Union minister Piyush Goyal recommended establishing a dedicated Invest India desk in the ministry of textiles to support investors in the sector.
Goyal praised the industry's enthusiasm for the PM MITRA Parks initiative and urged partnership in R&D.
The PM MITRA scheme aims to create an integrated textile value chain, reducing costs and creating jobs.

Union minister Piyush Goyal suggested setting up a dedicated Invest India desk in the ministry of textiles to assist and handhold investors looking to set up or expand their manufacturing base to meet increasing global demand in the sector. Goyal also released a Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) brochure prepared by the textile team of Invest India while chairing an industry interaction in New Delhi.

The minister commended the industry for their enthusiasm to set up and expand businesses in the upcoming PM MITRA Parks. He urged the industry to collaborate and partner for research and development (R&D) and innovation to jointly achieve greater strides in the sector. The industry interaction on ‘Investment Opportunities in the Textiles Industry under the PM MITRA Scheme’ took place in New Delhi, India, the ministry of textiles said in a press release.

The Union minister of textiles, commerce and industry and consumer affairs, food, and public distribution praised the initiatives taken by the seven state governments, namely, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Telangana, Tamil Nadu, and Uttar Pradesh, in providing a thriving ecosystem for textiles manufacturing.

Minister Goyal has encouraged the textile industry to utilise current ministry schemes, including the National Technical Textiles Mission and Scheme For Capacity Building In Textile Sector (Samarth). The dialogue focused on sustainability, R&D centre establishment, ESG compliance, and value-added product creation in the upcoming PM MITRA parks. A phased development of these parks for resource efficiency and better textile value chain integration was emphasised. Two action teams were proposed to study ESG norms and global best practice park design for future PM MITRA units.

Following Prime Minister Narendra Modi's 5F vision (Farm to fibre; fibre to factory; factory to fashion; fashion to foreign) to create a self-reliant India and strengthen its position in global textiles, a scheme was announced in the 2021-22 Union Budget to set up seven PM MITRA Parks. The PM MITRA scheme aims to establish an integrated textile value chain, reducing industry logistics costs. Expected to create about 100,000 direct and 200,000 indirect jobs per park spread over 1,000 acres, with proposed investment of around ₹70,000 crore, these parks will be developed through Public-Private Partnership.

Rachna Shah, secretary of the ministry of textiles, and other senior officials discussed the scheme with industry representatives. The respective strengths of the textiles sector in each of the seven selected States were highlighted, with an emphasis on infrastructure, scheme benefits, and investor-attractive initiatives.

Fibre2Fashion News Desk (NB)

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