Madhya Pradesh to Establish Country's Largest PM MITRA Park in Dhar

Madhya Pradesh is set to establish India's largest PM MITRA Park in Dhar, transforming the state's textile sector and industrial landscape. The park will offer attractive incentives to investors and has already attracted global brands like Hanesbrands and PVH Corp. With a memorandum of understanding signed with Buyer Sourcing Leaders, the park aims to integrate design, logistics, and skill development into the ecosystem.

Madhya Pradesh is poised to establish India's largest PM MITRA (Mega Integrated Textile Region and Apparel) Park in Dhar, set to revolutionize the state's textile sector and industrial landscape. The project, announced by Chief Minister Mohan Yadav, aims to place Madhya Pradesh at the forefront of the 'Farm to Fashion' value chain, integrating investment, employment, and global brand interest [1].

The park, slated to be developed on 2,158 acres of industrial land, will offer attractive incentives to investors, including a land premium of Rs 1 per square meter, development charges of Rs 120 per square foot, power at Rs 4.5 per unit, and water at Rs 25 per kilolitre. Several global brands, including Hanesbrands and PVH Corp, have already expressed interest in the state's textile potential [1].

In addition to the park's development, an "Interactive Session on Investment Opportunities in PM MITRA Park" will be held in New Delhi on September 3, featuring keynote addresses from Union Minister of Textiles Giriraj Singh and Chief Minister Mohan Yadav. The session aims to highlight India's growing global role in textiles and the importance of PM MITRA Parks [1].

PVH Corp, a leading player in the apparel industry, recently saw its stock price target raised by Wells Fargo to $88, reflecting strong Q2 performance and positive market sentiment [2]. The company's robust revenue growth and net income improvement, driven by strong performance in its Americas wholesale business and popular brands like Calvin Klein and Tommy Hilfiger, underscore its financial health [2].

The park's memorandum of understanding with Buyer Sourcing Leaders (BSL) aims to integrate design, logistics, and skill development into the ecosystem, further enhancing its appeal to investors and global brands [1].

References:
[1] https://www.business-standard.com/economy/news/pm-mitra-park-dhar-largest-textile-hub-madhya-pradesh-125090201364_1.html
[2] https://www.ainvest.com/news/wells-fargo-raises-pvh-corp-price-target-88-strong-q2-earnings-2508/