Latest News | Goyal Urges Textiles Industry to Collaborate and Partner for R&D and Innovation

New Delhi, Jun 21 (PTI) Union Minister Piyush Goyal has urged the industry to collaborate and partner for research and development and innovation to jointly achieve greater strides in the textiles sector.

He was chairing the Industry Interaction on 'Investment Opportunities in the Textiles Industry under PM MITRA Scheme' here on Tuesday.

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The Minister of Textiles, Commerce and Industry and Consumer Affairs, Food & Public Distribution also praised Gujarat, Karnataka, MP, Maharashtra, Telangana, Tamil Nadu, and UP for providing a thriving ecosystem for textiles manufacturing.

Goyal commended the industry for their enthusiasm to set up and expand businesses in the upcoming Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Parks.

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The minister further encouraged the industry to take benefit from the existing attractive schemes of the Ministry of Textiles, including the National Technical Textiles Mission and Scheme For Capacity Building In Textile Sector (Samarth).

He also 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.

The industry interaction revolved around the themes of Sustainability, introduction of R&D centres and making upcoming factories in the PM MITRA, ESG (environmental, social and governance) compliant and ensuring value added products are manufactured in the upcoming parks.

"The Minister emphasized the need for phase-by-phase development of these parks for efficient utilization of resources and better integration of the textile value chain. It was suggested that two 5 member Action Teams be set up to study ESG norms and model park design in line with global leading practices for upcoming units in the PM MITRA parks," the Textiles Ministry said.

Inspired by the 5F vision (Farm to fibre; fibre to factory; factory to fashion; fashion to foreign) of the Prime Minister of building an Aatmanirbhar Bharat and positioning India strongly on the global textiles map, the scheme for setting up of 7 PM MITRA Parks was announced in Union Budget for 2021-22.

PM MITRA scheme will offer the opportunity to create an Integrated Textiles Value Chain right from spinning, weaving, processing/dyeing, and printing to garment manufacturing at one location and will reduce logistics cost of Industry.

It is expected to generate around 1 lakh direct and 2 lakh indirect employment per park, spreading over 1,000 acres each and attracting proposed investments of around Rs 70,000 crore. These parks are envisaged to be located at sites that have inherent strength for the textile industry to flourish and have necessary linkages to succeed.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)