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India Plans More Mega Textile Parks Amid Past Failures

India Plans More Mega Textile Parks Amid Past Failures
India’s mega textile parks are yet to take off but the Centre plans to build more · scroll.in

The Indian government is planning to set up more mega textile parks to boost the textile sector, which is a major employer in the country.

These parks are expected to bring in investments and create jobs.

However, past attempts to set up similar parks have not been very successful, and experts are concerned about the challenges in achieving the targets.

The government is considering involving private developers to speed up the process, but experts believe that private players may prefer more profitable sectors.

The location of these parks is also a concern, as remote areas may not attract enough investment and labor.

Despite these challenges, the government is moving forward with the plan, hoping to increase the share of manufacturing in the country's GDP.

Key facts

Textile Sector Contribution to GDP
2.3%
Direct Workers in Textile Sector
45 million
Percentage of Capacity in MSMEs
80%
Number of Proposed Mega Textile Parks
7
Target GDP Share for Manufacturing
25%
Current GDP Share for Manufacturing
15-16%
Employment Target Achievement
57%
Investment Target Achievement
50%

Quotes

Sharmila Kantha

Industrial policy expert and former principal consultant with the Confederation of Indian Industries

““Today, it provides employment to approximately 22,000 people across the ecosystem spanning about 600 acres, with further growth expected as additional investments come on stream.””
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““Our competitor countries will have pulled themselves into advanced, strategic and high‑tech industries.””
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Sources

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