The Indian government has approved a project to create smart industrial parks in 11 states worth 286 billion rupees (310 billion rubles), Hindustan Times reported on August 29.
It is noted that these areas should attract private investment. The project is expected to create 4 million jobs over the next three years.
Railways, Information and Broadcasting, Electronics and IT Minister Ashwini Vaishnaw said the project is part of the National Industrial Corridor Development Programme (NICDP). He promised that the parks would have a major impact on domestic production and employment growth.
Industrial zones are planned in Uttarakhand, Punjab, Maharashtra, Kerala, Uttar Pradesh, Bihar, Telangana, Andhra Pradesh and Rajasthan. In addition, two zones will be established in the most populous state, Uttar Pradesh.
Union Minister for Commerce and Industry Piyush Goyal said that eight industrial parks are already being set up, taking the total number of such zones to 20.
“Since the land for these projects has already been acquired, we expect them to be operational within the next three years.” – he emphasized.
Goyal pointed out that some states like Maharashtra are making special efforts to open up faster than in three years. In each project, the shares of the government and the state are distributed in a ratio of 49 to 51.
Source: Rossa Primavera
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