CCEA okays continuation of Textile Parks scheme in 12th Plan

NEW DELHI: The government today approved continuation of the scheme for Integrated Textile Parks ( SITP) in the 12th Five Year Plan and sanction of new projects for utilising balance Rs 717 crore in the plan allocation after meeting committed liabilities of the sanctioned 61 parks.

"The Cabinet Committee on Economic Affairs has approved continuation of the scheme for Integrated Textile Parks (SITP) in the 12th Five Year Plan and sanction of new projects for utilising Rs 717 crore the balance left in the 12th Five Year Plan allocation, after meeting committed liabilities of the sanctioned 61 parks," an official statement said.

The CCEA also approved additional grant of Rs 10 crore to be given to existing parks for setting up apparel manufacturing units and has alloted Rs 50 crore for this purpose, it added.

According to the statement, the overall impact and progress of the scheme for integrated textile parks had been positive and the scheme had been successful on many counts. This includes leveraging private sector investment, employment generation and creation of need-based, product based world class infrastructure for the industry.

With the increasing costs of production in established clusters and heightened emphasis on environmental compliances, there is a growing need for establishment of green field textile parks that would address both these constraints, the statement said.