: CM Stalin submits MoU to Commerce Ministry to establish Mega Textile Park in Tamil Nadu #finance #StockMarketNEWS CM Stalin submits MoU to Commerce Ministry to establish Mega Textile Park in Tamil

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CM Stalin submits MoU to Commerce Ministry to establish Mega Textile Park in Tamil Nadu #finance #StockMarketNEWS
CM Stalin submits MoU to Commerce Ministry to establish Mega Textile Park in Tamil Nadu Chennai, April 2 (KNN) Tamil Nadu Chief Minister M K Stalin has submitted an MoU to Commerce Minister Piyush Goyal to set up Mega Textile Park under the PM-MITRA scheme. 

Currently, the southern state possess 1,052 acre of land for a mega park to be established as a leading producer and exporter of textile products.

The State Industries Promotion Corporation of Tamil Nadu Limited (Sipcot) in Virudhunagar district is in possession of the land and is located next to National Highway 44 (Madurai to Kaniyakumari).

On 14th March, 2022 a Preliminary Project Report for setting up a textile park under the PM-MITRA scheme was submitted by the state government to the central government. 

Setting its foothold in footwear manufacturing, CM Stalin has also sought a new production linked incentive (PLI) scheme for it. 

The scheme for footwear manufacturing is likely to improve the productivity of existing players enhancing India’s footwear exports. (KNN Bureau)

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