City
Epaper

NITI Aayog’s housing initiative for industrial workers to boost manufacturing workforce: ICEA

By IANS | Updated: December 21, 2024 17:40 IST

New Delhi, Dec 21 A secure, affordable, flexible and efficient accommodations for industrial workers is a pivotal initiative ...

Open in App

New Delhi, Dec 21 A secure, affordable, flexible and efficient accommodations for industrial workers is a pivotal initiative by NITI Aayog, aligned with the current and future needs of the domestic manufacturing sector, the India Cellular and Electronics Association (ICEA) said on Saturday.

NITI Aayog has released a comprehensive report on the crucial role of secure, affordable, flexible, and efficient (S.A.F.E.) accommodations for industrial workers in boosting India’s manufacturing sector.

The report addresses critical challenges that impact workforce stability, productivity, and inclusivity, which are essential for driving India’s aspirations as a global manufacturing hub.

“This comprehensive framework by NITI Aayog lays out actionable solutions to long-standing challenges, such as inadequate housing near industrial zones, which have often resulted in workforce attrition, instability, and lower productivity,” said Pankaj Mohindroo, Chairman, ICEA.

Furthermore, the report’s emphasis on gender-inclusive recommendations mark a significant step toward encouraging more women to participate in the manufacturing workforce, an area where the electronics sector stands to benefit immensely, he added.

The country is poised to elevate its manufacturing sector’s contribution to GDP from the current 17 per cent to 25 per cent as part of its long-term vision of achieving Viksit Bharat by 2047.

Some of the critical regulatory and financial reforms proposed in the report include promoting mixed-use developments in industrial areas to reduce commute times and improve worker accessibility and encouraging collaboration between the government and private players with Viability Gap Funding (VGF) support, which can address financial bottlenecks and accelerate project development.

It also proposes reclassifying worker accommodations under residential categories to enable lower taxes, utility rates, and GST exemptions, thereby making such projects more viable for private developers.

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

Open in App

Related Stories

InternationalSouth Korea: One dead after collapse at Yeouido Station construction site; probe underway

NationalCAQM tightens grip on waste burning, sets firm deadlines for NCR states

HockeyJunior World Cup hero Prince Deep Singh looks forward to learning from legendary goalkeeper David Harte in Hockey India League 2026

AurangabadProbe Hotel VITS deal scam through retired judge: Danve

InternationalIndia, Oman sign pacts across key sectors to bolster ties

Business Realted Stories

BusinessOn Day 1 of Bengal Business Summit, LoP Adhikari reminds CM Mamata of rising accumulated debt

BusinessG RAM G legislation makes poor households happy over increase in days of employment

BusinessGovt introduces Securities Markets Code Bill in Lok Sabha

BusinessVi subsidiary VITIL completes Rs 3,300 crore fundraise via issuance of NCD

BusinessIndia sugar industry seeks MSP revision, higher ethanol prices to tackle surplus stock