Cabinet gives nod to 12 industrial parks worth Rs 28,602 crore

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved 12 proposed industrial park projects worth Rs 28,602 crore under the government's National Industrial Corridor Development Programme (NICDP), in line with its 'Viksit Bharat' (Developed India) vision. These projects will cement India's role in global value chains with ready-to-allot land for investors, according to an official statement by the Cabinet Committee on Economic Affairs (CCEA). 

The country will "soon wear a grand necklace of Industrial Smart Cities on the backbone of Golden Quadrilateral", it noted.

Where will the proposed industrial parks be located?

The 12 industrial parks will span across 10 states and will be strategically planned along six major corridors, according to the statement.

They will be located in Khurpia in Uttrakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerela, Agra and Prayagraj in Uttar Pradesh, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in Andhra Pradesh, and Jodhpur-Pali in Rajasthan.

How many jobs will the proposed industrial parks create?

 NICDP is expected to generate significant employment opportunities, with an estimated 1 million direct jobs and up to 3 million indirect jobs through planned industrialisation, it said.

"The approval of 12 new industrial nodes under the NICDP marks a significant milestone in India's journey towards becoming a global manufacturing powerhouse. With a strategic focus on integrated development, sustainable infrastructure, and seamless connectivity, these projects are set to redefine India's industrial landscape and drive the nation's economic growth for years to come," the statement said. 

Union Budget 2024-25

In the Union Budget 2024-25, presented in Parliament last month, the government mentioned the establishment of 12 industrial parks under the National Industrial Corridor Development Program.

The parks will be "plug and play" and investment-ready, according to the first Budget of the Narendra Modi 3.0 government. 

"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," Finance Minister Nirmala Sitharaman said in her July 23 Budget speech in Parliament.