The textiles ministry will first notify the scheme and problem the rules within the subsequent one to one-and-a-half months after which, states would submit their preliminary undertaking stories.
Underneath the MITRA scheme, particular goal automobiles (SPVs) shall be arrange with 49% central authorities stake and 51% holding by the respective state which might personal the mega parks. Nevertheless, these shall be given on a 50-year lease to the grasp developer.
“The grasp developer will execute the tasks and a concession settlement could be signed with the SPV. We’re assured that international firms too will make investments,” Singh mentioned, including that your entire course of must be accomplished by 2026.
Singh mentioned a number of states have been eager to arrange such parks, however have been but to point their desire.
“Whereas states have evinced curiosity, no state has clearly mentioned if their parks shall be greenfield or brownfield,” he mentioned
The states could be judged on standards resembling connectivity with industrial corridors, their textile and industrial insurance policies, and labour legal guidelines, the secretary mentioned.
Singh mentioned that beneath the prevailing Scheme for Built-in Textile Park (SITP), 66 parks have been sanctioned, of which 10 have been cancelled however the remainder shall be accomplished.