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Indian government offers incentives for setting up mega textile parks

  

The Union government is offering incentives to investors for setting up proposed mega textile parks across India with plug-and-play facilities over 1,000 acre each. Land for the project will be granted by the state, informs UP Singh, Textile Secretary. The move will help India “build scale” across the textiles and garment value chain. It will also complement the recently-approved Rs 10,638-crore production-linked incentive (PLI) scheme for man-made fiber and technical textiles segments, adds Singh.

The parks will preferably be close to ports and house all sorts of textile and garment firms, including integrated facilities, to create a robust eco-system. The Center will offer incentives in two installments — upon completion of about 60 per cent and 100 per cent of work. Besides building, investors will also have to maintain these parks and other related facilities. They will operate the park for a period of 25-30 years and can collect fees from the companies that set up units there. These mega parks will attract overseas buyers by offering a broad range of products and cater for large orders, given the greater synergy among its resident entities.

 
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