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New Delhi [India], October 6 (ANI): Prime Minister Narendra Modi on Wednesday said that the union cabinet's decision of setting up seven PM Mega Integrated Textile Region and Apparel (PM MITRA) parks will give an impetus to the textiles sector.
He also added that the parks would boost employment and reduce logistics costs.
"Today's Cabinet decision relating to the setting up of 7 PM-MITRA parks will give an impetus to the textiles sector. These parks will boost employment and reduce logistics costs," the Prime Minister said in a tweet.
The Union Cabinet on Wednesday approved the setting up of seven PM MITRA parks as announced in Union Budget for 2021-22 with a view to positioning India strongly on the global textiles map.
It approved setting up of the parks with a total outlay of Rs. 4,445 crore over five years.
Textiles Minister Piyush Goyal told reporters after the cabinet meeting that PM MITRA is inspired by the 5F vision of the Prime Minister.
"The '5F' Formula encompasses - farm to fibre; fibre to factory; factory to fashion; fashion to foreign. This integrated vision will help furthering the growth of textile sector in the economy," he said.
The seven Mega Integrated Textile Region and Apparel Parks will be setup at greenfield or brownfield sites located in different willing states. (ANI)