TAG: GS 3: ECONOMY
THE CONTEXT: The Cabinet Committee on Economic Affairs has approved 12 new project proposals under the National Industrial Corridor Development Programme (NICDP) with an estimated investment of Rs. 28,602 crore.
EXPLANATION:
- This move is set 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.
- The project spanning across 10 states and strategically planned along 6 major corridors.
- These projects represent a significant leap forward in India’s quest to enhance its manufacturing capabilities and economic growth.
- These industrial areas will be located in Khurpia in Uttrakhand, Rajpura-Patiala in Punjab, Dighi in, Maharashtra, Palakkad in Kerela, Agra and Prayagraj in UP, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in AP and Jodhpur-Pali in Rajasthan.
Key Highlights:
- Strategic Investments:
- NICDP is designed to foster a vibrant industrial ecosystem by facilitating investments from both large anchor industries and Micro, Small, and Medium Enterprises (MSMEs).
- These industrial nodes will act as catalysts for achieving $2 trillion in exports by 2030, reflecting the government’s vision of a self-reliant and globally competitive India.
- Smart Cities and Modern Infrastructure:
- The new industrial cities will be developed as greenfield smart cities of global standards, built “ahead of demand” 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.
- Area Approach on PM GatiShakti:
- Aligned with the PM GatiShakti National Master Plan, the projects will feature multi-modal connectivity infrastructure, ensuring seamless movement of people, goods, and services.
- The industrial cities are envisioned to be growth centers for transformation of whole region.
Vision for a ‘Viksit Bharat’:
- The approval of these projects is a step forward in realizing the vision of ‘Viksit Bharat’ – a developed India.
- By positioning India as a strong player in the Global Value Chains (GVC), the NICDP will provide developed land parcels ready for immediate allotment.
- It will make easy for domestic and international investors to set up manufacturing units in India.
- This aligns with the broader objective of creating an ‘Atmanirbhar Bharat’ or a self-reliant India, fostering economic growth through enhanced industrial output and employment.
Economic Impact and Employment Generation:
- NICDP is expected to generate significant employment opportunities, with an estimated 1 million direct jobs and upto 3 million indirect jobs being created through planned industrialization.
- This will not only provide livelihood opportunities but also contribute to the socio-economic upliftment of the regions where these projects are being implemented.
Commitment to Sustainable Development:
- The projects under the NICDP are designed with a focus on sustainability, incorporating ICT-enabled utilities and green technologies to minimize environmental impact.
- By providing quality, reliable, and sustainable infrastructure, the government aims to create industrial cities that are not just hubs of economic activity but also models of environmental stewardship.
- The approval of 12 new industrial nodes under the NICDP marks a significant milestone in India’s journey towards becoming a global manufacturing powerhouse.
- 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 for years to come.
- In addition to these new sanctions, the NICDP has already seen the completion of four projects, with another four currently under implementation.
- This continued progress highlights the government’s commitment to transforming India’s industrial sector and fostering a vibrant, sustainable, and inclusive economic environment.