Industrial Parks Under National Industrial Corridor Development Programme

Home Industrial Parks Under National Industrial Corridor Development Programme

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By The Study IAS

Jul 29, 2024

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Union Finance Minister announced development of 12 new industrial parks under National Industrial Corridor Development Programme during her budget speech for 2024-25, with the aim to enhance India’s industrial infrastructure.

Industrial Parks Under National Industrial Corridor Development Programme

What is the “plug and play” modal?

Under this model, the government will undertake the identification, acquisition, and development of land for industrial purposes.
Subsequently, global manufacturing companies can set up machinery and utilise these facilities to produce specified products.

National Industrial Corridor Development Programme:

It is under the Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry (MoC&I).
Aim: To develop futuristic industrial cities in India which can compete with the best manufacturing and investment destinations in the world.
Focuses: Creating smart industrial cities equipped with modern technologies.
The initiative is part of a broader strategy to enhance manufacturing capabilities and improve economic conditions across the country.
Government is developing 11 Industrial Corridor Projects as part of this Programme across the country in a phased manner.
Notable examples include Delhi-Mumbai Industrial Corridor (DMIC), the first industrial corridor approved in 2007, and Western Dedicated Freight Corridor.
The Central Government, through the National Industrial Corridor Development & Implementation Trust (NICDIT), finances the development of world-class trunk infrastructure in industrial nodes/regions.
State governments are responsible for providing contiguous, encumbrance-free land parcels.

Industrial Parks:

Also known as industrial estates or zones, are planned areas designed for clusters of commercial and industrial activities.
Goal: To support new enterprises, streamline operations, and expand businesses, boosting economic growth.
Programs like “Make in India” and “Atmanirbhar Bharat” have established industrial parks as key economic drivers.
Several successful industrial parks that significantly impacted Indian economy:
Sri City Special Economic Zone, Andhra Pradesh: A thriving hub for various sectors, including automobile, electronics, and textiles.
GIFT City, Gujarat: A major centre for finance and technology, attracting global businesses and fostering innovation.

Industrial Park Rating System (IPRS):

Initiated by DPIIT in 2018 with support from Asian Development Bank (ADB) and Ministry of Electronics and Information Technology (MeitY).
It is an extension of India Industrial Land Bank (IILB) platform, featuring over 4,500 industrial parks.
IPRS 2.0: Launched in 2021, developed by the United Nations Industrial Development Organization (UNIDO) and the World Bank.