The development of seven “PM MITRA” mega textile parks, one in each of Karnataka, Tamil Nadu, Telangana, Maharashtra, Gujarat, Madhya Pradesh, and Uttar Pradesh, was officially launched by Prime Minister Narendra Modi.
According to the textiles ministry, this project will attract 70,000 crore in investments, generate 2 million jobs, and significantly increase exports.
The seven sites have been selected after the evaluation of 18 proposals submitted by 13 states, a textile ministry statement said. The government has focused on providing incentives to boost exports of labour-intensive items such as textiles, currently facing strong headwinds because of a contraction in global demand.
According to official data, India saw a sharp year-on-year 16.57% dip in exports of textile products at $30.26 billion in April-January 2022-23, while their imports jumped over a 33.5% jump ($8.95 billion).
