New Delhi [India], December 20 : India's 12 green field projects under the National Industrial Corridor Development Project will create employment opportunities for 9.4 lakh individuals says a year-end release by the Department of Promotion of Industry and Internal Trade.
The 12 green field projects under the National Industrial Corridor Development Project will cover an area of 25,975 acres and involve an investment of Rs28,602 crore. The Projects are expected to attract Rs1.5 lakh crore in investments while generating employment opportunities for 9.4 lakh individuals over a period of five years.
Spread across less-served industrial regions, these projects focus on planned industrialization and balanced regional development.
The infrastructure costs include trunk infrastructure and land costs, with the respective states already in possession of the required land. These projects are positioned as growth centres, driving regional transformation and attracting investments across various high-growth sectors.
The 12 projects will cater to identified sectors based on market demand and India's long-term industrial strategy. These include Semiconductors, Aerospace and Defence, IT & ITeS, Electronics and System Device Manufacturing (ESDM), Engineering and Logistics, Automobiles and Auto Components, Renewable Energy, Pharmaceuticals, Textiles and Apparel, Food and Beverages, Chemicals & Metals, and Machinery & Equipment. These industries are crucial for enhancing India's role in the global value chain and driving sustainable economic growth.
The initiative aims to create infrastructure ahead of demand, ensuring ready-to-allot industrial land parcels to attract immediate investments.
The five-year action plan includes the development of 12 new industrial cities, aligned with Industry 4.0 standards, in addition to eight already approved projects.
These measures align with the government's vision of "Atmanirbhar Bharat," focusing on robust physical and economic infrastructure, addressing equity gaps, and fostering job creation for local communities and the youth.
Considerable progress has already been made under the National Industrial Corridor Development Project. As of June 2024, 308 plots covering 1,789 acres have been allotted in four key cities: Dholera, Shendra Bidkin, Greater Noida, and Vikram Udyogpuri.
Additionally, 2,104 acres of developed industrial land and 2,250 acres designated for commercial, residential, and other uses are available for immediate allotment. Notably, 68 companies have commenced commercial operations, and 83 projects are currently under construction in these cities.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor