In a bid to attract investments to Odisha’s textile sector, the state industries department has planned a meeting with representatives from the on October 25. Senior officials of the Centre and the state will also attend the meet.
The State Government has taken this initiative in order to participate in the Prime Minister’s Mega Integrated Textile Region and Apparel Parks (PM-MITRA) scheme under which seven textile parks across the country will be built in five years to draw foreign direct Investment in the sector. A sum of Rs 4,445 crore has already been approved for the scheme.
The state would submit a formal proposal, seeking to establish a mega textiles park in the state, after the Centre notifies the scheme, issuing detailed guidelines. “Considering Odisha’s huge potential for Growth of the textiles industry, the state has listed it as a focus sector,” said an industries department official.
The state plans to set up two textile parks with common facilities and Infrastructure to support the entire value chain and draw investment. Under the PM-MITRA scheme, the Centre has assured to provide a capital support of Rs 500 crore or 30 per cent of the project cost (whichever is highest) to develop common infrastructure in the proposed textiles park.