Industrial Smart Cities
Context:
The Union Cabinet approved the development of 12 “industrial smart cities” across 10 states, with an estimated investment of ₹28,602 crore.
More on news:
- These projects, intended to attract foreign direct investment from countries like Singapore and Switzerland, are designed to create an industrial ecosystem that supports both large anchor industries and micro, small, and medium enterprises (MSMEs).
- Spanning across six major industrial corridors in 10 states, the projects will form a “necklace of industrial cities” along the Golden Quadrilateral.
- These cities will offer “plug-and-play” infrastructure, including 24-hour electricity and potable drinking water.
- This Cabinet approval follows the Finance Minister’s announcement during the Union Budget, where she outlined plans to approve 12 industrial parks under the National Industrial Corridor Development Programme (NICDP).
- These industrial nodes are expected to be key contributors towards achieving $2 trillion in exports by 2030.
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National Industrial Corridor Development Programme (NICDP) It is a significant initiative by the Government of India aimed at developing a network of industrial corridors to enhance the country’s manufacturing capabilities and economic growth. It is expected to significantly boost India’s manufacturing sector, contributing to the goal of achieving US$2 trillion in exports by 2030. Objective: The NICDP aims to create futuristic industrial cities that can compete globally, generating employment and fostering socio-economic development. It is part of India’s broader strategy to position itself as a key player in global value chains. Investment: The program has recently approved 12 new project proposals with an estimated investment of ₹28,602 crore (approximately US$3.41 billion). This investment is expected to create 1 million direct jobs and up to 3 million indirect jobs. Industrial Corridors: The NICDP encompasses several major industrial corridors, including: Delhi-Mumbai Industrial Corridor, Amritsar-Kolkata Industrial Corridor, Chennai-Bengaluru Industrial Corridor, Vizag-Chennai Industrial Corridor, Hyderabad-Nagpur Industrial Corridor, Hyderabad-Warangal Industrial Corridor, Hyderabad-Bengaluru Industrial Corridor, Odisha Economic Corridor, Bengaluru-Mumbai Industrial Corridor and Delhi-Nagpur Industrial Corridor. Key Features
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