NEW DELHI, Oct 7: The setting up of seven Mega Integrated Textile Region and Apparel (MITRA) parks in the country will help attract both foreign and domestic investments in the sector and make it globally competitive, Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said on Thursday.
He said that MITRA will help India regain its global leadership position in the textile industry.
The union cabinet on October 6, approved the setting up of seven Mega Integrated Textile Region and Apparel parks with a total outlay of Rs 4,445 crore for five years to position India strongly on the global textiles map.
“It will attract massive foreign and domestic investment in the sector making it globally competitive while helping create lakhs of jobs,” Sakthivel said.
These steps, he said, will also help push exports and take it to over USD 100 billion in the next few years.
“The country has all the players from farm-to-fashion but has still been lagging behind in the global apparel trade due to certain factors that have now been addressed.
“MITRA Parks, which will bring together all players of the textile value chain in one place, will help reduce logistics cost and also cut down on the delivery time,” Sakthivel added. (PTI)
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