CURRENT AFFAIRS

Detailed explanation-1: -It is hoped that the PM MITRA Parks will have world-class industrial infrastructure which would attract cutting age technology and boost FDI and local investment in the textiles sector. The PM MITRA scheme is Inspired by the 5F vision of Hon’ble Prime Minister - Farm to Fibre to Factory to Fashion to Foreign.

Detailed explanation-2: -’MITRA’ scheme, which was announced in the recent Union Budget is related to which sector? Notes: In the Union Budget 2021-22, Finance Minister Nirmala Sitharaman announced a scheme of Mega Investment Textiles Parks (MITRA). The scheme is to be launched in addition to the Production Linked Incentive (PLI) scheme.

Detailed explanation-3: -National Conference on the PM MITRA scheme was organized by the Ministry of textiles, where many states gave presentations on setting up textiles parks in their respective states. The textile sector has been accorded focus area status in the free trade agreements India is negotiating with countries.

Detailed explanation-4: -Which Union Ministry implements the ‘PM MITRA’ Scheme? Notes: PM Mega Integrated Textile Regions and Apparel Park (PM MITRA) is being implemented by Union Ministry of Textiles. PM MITRA Park creates an Integrated Textiles Value Chain at one location and will reduce logistics cost.

Detailed explanation-5: -PM MITRA (Mega Integrated Textile Region and Apparel) scheme was first announced in Union Budget for 2021-22. This integrated vision will help furthering the growth of textile sector in the economy. The 7 PM MITRA parks will be setup at Greenfield / Brownfield sites located in different willing States.