NEW DELHI: To attract higher foreign investment in the textile sector, India has planned a complete overhaul of a scheme to create world-class infrastructure facilities for setting up textile units.
The government is considering a plan to set up 1,000-acre mega textile parks as it revamps the Scheme for Integrated Textile Park (SITP) whose slow progress is attributed to delay in obtaining land and other statutory clearances from state governments and slow fund mobilisation by the textil parks.
Launched in 2005, the scheme aims to provide industry with state of the art world-class infrastructure facilities for setting up their textile units. A total of 59 textile parks have been sanctioned under SITP by the textiles ministry out of which 22 textile parks have been completed and rest are under various stages of construction Textiles ministry has circulated a cabinet note, a senior government official told ET.