Context:
The MSME Minister of Uttar Pradesh has announced that the country’s first textile machine park will be established on 875 acres of land near Kanpur.
More in News:
- The park will focus on manufacturing textile-related machines that are currently imported from China, Vietnam, South Korea, Taiwan, and Europe.
- Over 40,000 crores are spent annually on importing these machines, with the amount expected to rise to 4 lakh crores in the next five years.
- The objective of the park is to promote the Make in India initiative under the PPP mode, with plans for 30,000 crores worth of exports.
- Uttar Pradesh is preparing for a significant leap in textile production, with the addition of ten new textile parks across ten districts, including the PM Mitra Park near Lucknow.
- The global textile market is expected to reach 350 billion dollars by 2030, and four lakh crores worth of machines will be needed to meet this demand, a figure that will increase tenfold in the next five years.
- Currently, critical machines like circular knitting machines, flat knitting machines, diving machines, printing machines, sewing machines, patient gown machines, and technical textile machines are imported.
- These machines will now be manufactured on 875 acres of land in Chaparghata village, near Bhognipur, Kanpur.
- Over 200 large and medium units will be established within the park.
- The textile machine park is expected to generate employment for about 1.5 lakh people.