Anil Agarwal on Vedanta industrial parks: ‘Anyone with ₹5 crore investment…'

Vedanta's Anil Agarwal invites ₹5 crore investments for two new industrial parks to boost India's manufacturing and job creation.

Vedanta Resources chairman Anil Agarwal said that anyone with an investment of ₹5 crore is welcome to set up business at the two industrial parks that the company is planning to set up on a not-for-profit basis. The industrial parks would take India’s manufacturing and job creation to “another level”, he said.

Vedanta chairman Anil Agarwal is seen, Vedanta to establish two industrial parks for aluminium, zinc, and silver, requiring 1,500 acres of land, aiming for inauguration this financial year. (HT Photo)

Vedanta would set up two industrial parks, one for aluminium and one for zinc and silver, the company announced last month.

Anil Agarwal said, “At Vedanta, we have announced the setting up of two industrial parks, one for zinc and silver and a second for aluminium, both on not-for-profit basis. Anyone with an investment of ₹5 crore and above is welcome to set up their business."

The industrialist said that they would require 1,500 acres of land to begin, preferably within 50 km of their major operations in Rajasthan and Odisha. He said, “But we are happy to examine interest from any state or industrial city. We would like to inaugurate the parks in this financial year. I believe this is going to take India's manufacturing and job creation to another level."

Lauding the government’s decision to develop 12 smart industrial cities across India, he said that this would boost manufacturing, especially when it comes to MSMEs. He said, “Industrial clusters are a globally proven approach where large anchor industries become the big tree around which hundreds and thousands of MSMEs take root, creating lakhs of jobs. It is good that the clusters are around cities because managers and workers need soft infrastructure like housing, healthcare and entertainment for decent living."

Anil Agarwal had said last month that Vedanta would consider setting up similar parks for oil and gas, and iron and steel. This comes as the company approved a third interim dividend of ₹20 per share for FY25, raising the total dividend payout so far to ₹13,474 crore.