Prime Minister Narendra Modi on Monday met the CEO of Japanese clothing brand Uniqlo to discuss investment opportunities for the retailer in textile manufacturing in India.
“Boosting India’s textile sector. PM @narendramodi met CEO of Fast Retailing, the parent company of @UNIQLO_JP, Tadashi Yanai,” MEA spokesperson Arindam Bagchi tweeted. “Discussed Uniqlo’s growing presence in India and investment opportunities for textile manufacturing in India under PLI scheme.” While Yanai appreciated the entrepreneurial zeal of the people of India, Modi asked him “to take part in the PM-Mitra scheme aimed at further strengthening the textiles sector,” PMO India tweeted.
The PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks Scheme is aimed at developing textile parks through a special purpose vehicle owned by the central and state government and in a public-private partnership (PPP) model. Each park will have an incubation centre, a common processing house and a common effluent treatment plant and other textile related facilities, such as design centres and testing centres. The Master Developer is not just required to develop the industrial park but also maintain it during the concession period.