According to an official statement, the Union Cabinet approved the creation of 12 industrial parks on Wednesday.
Cabinet Approves 12 Industrial Parks
Under the auspices of the government’s ‘Viksit Bharat’ (Developed India) agenda, the Union Cabinet, presided over by Prime Minister Narendra Modi, approved 12 planned industrial park projects worth Rs 28,602 crore on Wednesday. With ready-to-allot land for investors, these projects will solidify India’s place in global value chains, the Cabinet Committee on Economic Affairs (CCEA) said in an official release.
The statement stated that the nation will “soon wear a grand necklace of Industrial Smart Cities on the backbone of Golden Quadrilateral”.
What location are the projected industrial parks going to be?
According to the announcement, the 12 industrial parks will be strategically located along six main corridors, spanning over ten states.
Khurpia, Uttrakhand; Rajpura-Patiala, Punjab; Dighi, Maharashtra; Palakkad, Kerela; Agra and Prayagraj, Uttar Pradesh; Gaya, Bihar; Zaheerabad, Telangana; Orvakal and Kopparthy, Andhra Pradesh; and Jodhpur-Pali, Rajasthan are the places where they would be situated.
How many jobs are expected to be created by the proposed industrial parks?
According to the report, the NICDP is anticipated to create a large number of jobs, up to 3 million indirect jobs and an estimated 1 million direct jobs through planned industrialization.
The NICDP’s acceptance of 12 new industrial nodes represents a critical turning point in India’s development into a major player in the world manufacturing economy. Strategically concentrating on The statement read, “These initiatives, which include integrated development, sustainable infrastructure, and seamless connectivity, are poised to revolutionize India’s industrial landscape and propel the country’s economic growth for years to come.
Union Budget for 2024–2025: Cabinet Approves 12 Industrial Parks
Last month, the government brought up the idea of creating 12 industrial parks as part of the National Industrial Corridor Development Program in the Union Budget 2024–25, which was presented to Parliament.
The first Budget of the Narendra Modi 3.0 government states that the parks will be “plug and play” and investment-ready.
In her July 23 Budget speech in Parliament, Finance Minister Nirmala Sitharaman stated, “Our government will facilitate the development of investment-ready, ‘plug and play’ industrial parks with complete infrastructure in or near 100 cities, in partnership with the states and private sector, by better-using town planning schemes.
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