News Update

Union Cabinet clears ₹4,445-cr. textile parks

• ByManjeet Singh     |    October 7, 2021

A proposal of Rs 4,445 crore was approved by the Union Cabinet on Wednesday for the creation of seven Mega Integrated Textile Regional and Apparel Parks. Textiles Minister Piyush Goyal said the mega parks scheme will include brownfield and greenfield projects over five years.

Special purpose vehicles (SPVs) owned by the Central and State governments will develop the parks. Development Capital Support, aimed at helping develop infrastructure, will fund 30% of a project’s cost up to *500 crores for greenfield projects and *200 crores for brownfield projects. An incentive support for competitiveness would be restricted to 300 crores per park.

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