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Indian cabinet approves 12 industrial projects under NICDP

28 Aug '24
2 min read
Indian cabinet approves 12 industrial projects under NICDP
Pic: Adobe Stock

Insights

  • India's Cabinet Committee on Economic Affairs has approved 12 project proposals under the National Industrial Corridor Development Programme with an estimated investment of $3.4 billion.
  • The focus of these projects is integrated development, sustainable infrastructure and seamless connectivity, generating a million direct and up to 3 million indirect jobs.
India’s Cabinet Committee on Economic Affairs has approved 12 project proposals under the National Industrial Corridor Development Programme (NICDP) with an estimated investment of ₹28,602 crore ($3.4 billion), it was announced today.

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 in future, a release from the ministry of commerce and industry said.

The decision is expected to transform the industrial landscape of the country creating a robust network of industrial nodes and cities that will significantly boost economic growth and global competitiveness. It is expected to generate a million direct jobs and up to 3 million indirect jobs.

Spanning across 10 states and strategically planned along six major corridors, these industrial areas will be located in Khurpia in Uttrakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerala, Agra and Prayagraj in UP, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in Andhra Pradesh and Jodhpur-Pali in Rajasthan.

These will facilitate investments from both large anchor industries and micro, small and medium enterprises, and act as catalysts for achieving exports worth $2 trillion by 2030, the ministry said.

The new industrial cities will be developed as greenfield smart cities of global standards, built on the 'plug-n-play' and 'walk-to-work' concepts. This approach ensures that the cities are equipped with advanced infrastructure that supports sustainable and efficient industrial operations.

The projects will feature multi-modal connectivity infrastructure, ensuring seamless movement of people, goods and services.

Fibre2Fashion News Desk (DS)

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