Economics • Indian EconomyHard
What is the primary strategic objective of establishing 'PM MITRA (Mega Integrated Textile Region and Apparel)' parks across India?
A. To promote traditional handloom weaving cooperatives through subsidized yarn distribution
B. To integrate the entire textile value chain from spinning, weaving, processing, and printing to garment manufacturing at a single location to achieve global scale✓ Correct Answer
C. To provide crop insurance and minimum support prices to cotton cultivators in drought-prone districts
D. To replace synthetic fibers with organic jute products through mandatory blending regulations
💡 Solution & Explanation
PM MITRA parks are designed to create world-class industrial infrastructure that integrates the entire textile value chain at one location, reducing logistics costs and enhancing global competitiveness of the Indian textile sector. Inspired by the 5F vision of farm to fiber, fiber to factory, factory to fashion, and fashion to foreign, these parks facilitate large-scale investments and job creation. State governments partner with the Union Ministry of Textiles to establish these mega clusters. Plug-and-play facilities within the parks help reduce gestation periods for manufacturing units.
More Economics Indian Economy questions
- Examine the statutory framework of the 'Fiscal Responsibility and Budget Management' (FRBM) Act, 2003. Which…
- What does the 'Fiscal Responsibility and Budget Management Act' of two thousand and three mandate for the…
- What economic role do rural mandis regulated under the Punjab Agricultural Produce Markets Act play in the…
- What is the primary focus of the 'Make in India' initiative introduced in 2014?
- In the context of India's fiscal architecture, how is the 'Effective Revenue Deficit' defined?