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Govt may launch dozen industrial parks to attract ₹1.50 lakh crore investments
The Cabinet, chaired by Prime Minister Narendra Modi, has taken up the proposal to set up multi-crore infrastructure projects to attract investments and boost the economy
New Delhi: The government may launch about a dozen industrial parks covering the entire country in a quadrilateral to attract over Rs.1.50 lakh crore investments, boost manufacturing, and create employment opportunities, people aware of the development said, adding that the approval is expected in the Cabinet today.
The Cabinet, chaired by Prime Minister Narendra Modi, has taken up the proposal to set up multi-crore infrastructure projects to attract investments and boost the economy, they said, requesting anonymity.
The government will make a formal announcement later in the afternoon while briefing the media about the cabinet decision, they said.
The proposed industrial parks would focus on creating regional manufacturing hubs across the country. It would promote sectors such as food processing, specialised textiles, logistics, tourism, and electric vehicles, the first person said. Projects can kick off without delay as land acquisition is already done and basic regulatory clearances have been obtained.
While presenting the Union Budget for 2024–25, Union finance minister Nirmala Sitharaman spoke about the parks. “Our government will facilitate the development of investment-ready ‘plug and play’ industrial parks with complete infrastructure in or near 100 cities, in partnership with the states and private sector, by better using town planning schemes,” she said in her Budget speech on July 23.
“Twelve industrial parks under the National Industrial Corridor Development Programme also will be sanctioned,” she said that day.
According to the people mentioned above, the proposed parks would be located in states such as Uttar Pradesh, Bihar, Telangana, Andhra Pradesh, Kerala, Punjab, and Uttarakhand.
