CCEA for more units under integrated parks

NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA) has approved a hike in the number of units under the Scheme for Integrated Textile Parks (SITP) to 30 from the present 26 during the 10th Five-Year Plan. CCEA, which met here on Thursday under the chairmanship of Prime minister Manmohan Singh, enhanced the target which includes 26 projects sanctioned so far.

It has been decided that there would be no change in the funding pattern and other parameters for these parks, information & broadcasting minister PR Dasmunsi said after the CCEA meeting. Development of additional parks will facilitate additional investment, employment generation and increase in textile production, he said.

The minister said all the parks would be sanctioned by March 2007 and the projects would be completed by 2008-09. Under SITP, the textile ministry provides infrastructure facilities such as roads, electricity supply including captive power plants and telecom lines to firms willing to set up textile units.Many of the textile parks are at various stages of implementation.

These parks are expected to make the Indian industry competitive. Apart from making the industry cost competitive, these parks are expected to enhance manufacturing capacity of the Indian textile sector.