The Union Cabinet may soon consider a proposal to set up 12 industrial parks in 10 states to boost domestic manufacturing, attract foreign direct investment (FDI) and generate jobs, sources told CNBC-TV18.
He ₹The Rs 25,000 crore proposal is expected to attract investments worth ₹$1.5 trillion as it seeks to establish residential and commercial zones as part of the planned “plug-and-play” industrial park to make the area function as a separate industrial city.
A plug-and-play industrial park is a pre-built facility with backbone infrastructure and land provided by the government, allowing businesses to begin operations immediately.
The proposal iThe industrial parks, which will take more than three years to develop, are expected to focus on sectors such as electric vehicles, food processing, technical textiles, manufacturing, aeronautical logistics and tourism.
According to sources, land acquisition and various regulatory authorizations They have already been completed by the Government to avoid delays.
The proposed industrial parks are expected to come up in 10 states including Punjab, Uttarakhand, Uttar Pradesh, Bihar, Telangana, Andhra Pradesh and Kerala, among others.
In the Modi government’s first Union Budget 3.0 presented last month, Finance Minister Nirmala Sitharaman said plans were afoot to facilitate the development of “plug-and-play” industrial parks, in partnership with states and the private sector, in nearly 100 cities across India as part of the National Industrial Corridor Development Programme.
While options remain open for the central government to develop such industrial units in collaboration with states and the private sector to harmonize resource use, the existing integrated industrial townships in Greater Noida in Uttar Pradesh and Dholera in Gujarat can serve as role models for the planned exercise.
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