BusinessThe central government is ready to create tens of thousands of jobs

The central government is ready to create tens of thousands of jobs

Highlight:

  • The project indirectly benefits Kerala
  • Potential for exports and foreign investment

The Central Government has created better opportunities for job seekers. It is reported that new announcements will be made soon to revive the sluggish markets in Kovid. According to the report, the Union Cabinet is likely to approve seven textile parks soon to boost productivity in the country’s textile sector and create tens of thousands of jobs. According to sources, the Union Ministry of Textiles has decided to approve seven mega investment textile parks (MITRAs) spread over acres in the next three years.

Tens of thousands of jobs will be created in various positions directly in the parks and in related areas. The plan is to reduce the unemployment rate in the country. The primary objective is to take the Indian garment trade forward internationally. It is also possible to earn more income through exports.

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These mega textile parks, announced in the 2021 budget, will ensure better infrastructure and facilities to reduce traffic losses. Acceptance of Indian textiles in international markets will be a great advantage for parks. States must ensure road connectivity and access to electricity to parks. Mitra Parks will play a crucial role in bringing in foreign direct investment (FDI) in the textile sector.

Man-made fiber section (MMF) garments, MMF. Earlier, the Union Cabinet had approved a Production-Linked Incentive (PLI) project worth Rs 10,683 crore for textiles and ten products of technical fabrics. This will increase domestic production and exports. The plan is to attract new investment of `19,000 crore in the sector and an additional turnover of` 3 lakh crore within five years for the production of this category of textiles. 1.97 lakh crore in the budget for 13 categories of PLIs. This is part of the scheme.

The scheme will directly benefit Gujarat, Uttar Pradesh, Maharashtra, Punjab, Tamil Nadu, Andhra Pradesh, Telangana and Odisha. The assessment is that the investments in Tamil Nadu will indirectly benefit Kerala as well. India is the sixth largest exporter of textiles and textiles in the world.

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