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Industrial Parks Under National Industrial Corridor Development Programme
Context:
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.
What is the “plug and play” modal?
More on News:
- The budget outlines plans for “plug and play” industrial parks, which will be developed in or near 100 cities.
- This initiative is designed to attract investments by providing ready-to-use infrastructure, facilitating easier setup for industries in partnership with state governments and private sector.
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:
Industrial Park Rating System (IPRS):
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