New Delhi: The government on Thursday approved the setting up of 21 integrated textiles parks envisaging a total investment of Rs 819 crore during the 12th Five Year Plan (2012-17). (Agencies)
These parks were to implemented during the 11th Five Year plan (2007-2012) under the Scheme of Integrated Textile Parks (SITP) that aims to leverage private sector investment, generate employment and create need-based and product-based world class infrastructure for the industry.
"...21 parks were sanctioned in the 11th Plan and this programme is spilled over in the 12th Plan. Therefore, the Cabinet approved today implementation of 21 parks in 12th Plan," Finance Minister P Chidambaram told reporters after the CCEA meeting here.
Of the total outlay, the CCEA has also approved the utilisation of Rs 200 crore for setting up of additional parks under the scheme in the current plan in such a way that the committed liability of new parks does not exceed this amount.
"The CCEA approved to carry over the committed liability beyond Rs 200 crore amounting to Rs 819 crore into the 12th plan" as per the amendment approved in 2010, the release said.
To speed up implementation of these parks in the current plan period, the CCEA approved the adoption of amendments in the guidelines of the SITP, an official release said.
The green field textiles parks are necessary against the backdrop of increasing cost of production in the established cluster and emphasis on environmental compliances.
New Delhi: The government on Thursday approved the setting up of 21 integrated textiles parks envisaging a total investment of Rs 819 crore during the 12th Five Year Plan (2012-17).