The Karnataka Government should move quickly to access the benefits from the PM-Mega Investment Textiles Parks (Mitra) scheme, lest it lose out in the face of several states evincing interest in participating in the scheme, said FKCCI, in an appeal to chief minister, Basavaraj Bommai.
“Bengaluru is a major garments hub and a crucial part of the value chain of textiles in the country and under the aegis of PM-Mitra, the budgeted world-class infrastructure with plug-and-play facilities that enable major investments in exports under the scheme will push the concept of ‘Farm to Fibre to Factory to Fashion to Foreign’,” said I.S. Prasad, president, FKCCI.
“Since there are several other states with formidable footprint in textiles sector, we should step in before them and make for a strong pitch for setting up a mega investment textile Park in Bengaluru,” he said.
He also appealed to the textile entrepreneurs and trading community to be in readiness to set up anchor plants and hire at least 100 people since such businesses will be eligible to secure Rs. 10 crore in a year for three years or a total of Rs. 30 crore under the scheme, in addition to the benefits available under the existing PLI scheme.
FKCCI also pointed out that unlike most PLI schemes which targeted only high-value goods or import substitution goods, the PLI for textiles included products that don’t come under either category such as synthetic fibres including rayon, nylon, polyester and acrylic, and technical textiles. “We therefore urge the state government to make its pitch to the centre before other states for a mega investment textiles Park, and also the textiles and trading community should be ready to set up anchor industries and avail the benefits from both PM-Mitra as well as the revamped PLI scheme,” it said.
