MITRA Parks scheme
The Mega Investment Textiles Parks (MITRA) scheme was launched this year by the Indian Government to boost the competiveness of the country?s textile industry in the global market, attract investments and promote job growth. Under this scheme, the government seeks to develop seven textile parks in the country over three years.
Improving competitiveness of India?s textile industry is critical as the share of textile in overall Indian merchandise trade fell from 14 per cent in 2014-15 to 11 per cent in 2020-21. The main reason behind this decline is the improved performance of rival economies like Vietnam and Bangladesh in areas like cotton yards and ready-made garments.