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These twelve industrial parks will be sanctioned under the National Industrial Corridor Development Programme.
- Government will also facilitate development of investment-ready plug and play industrial parks with complete infrastructure in or near 100 cities, in partnership with states and private sector, by better using town planning schemes.
About Industrial Parks
- Industrial parks are economic zones that are expressly developed to accommodate a cluster of industrial activity. E.g. Andhra Pradesh’s Sri City Special Economic Zone.
- Significance:
- Creation of employment opportunities.
- Fosters sharing of common infrastructure, collaborate and enhance productivity and competitiveness.
- Attracts Foreign Direct Investment and expands manufacturing activity.
National Industrial Corridor Development Programme (NICDP)
- Aim: Development of industrial corridor projects aimed at developing futuristic industrial cities which can compete with best manufacturing and investment destinations in the world.
- Projects: 11 industrial corridors are envisaged consisting of 32 projects to be developed in 4 phases.
- Development of first Industrial Corridor – Delhi Mumbai Industrial Corridor was approved in 2007.
- Implementation Framework: Implemented by National Industrial Corridor Development and Implementation Trust (NICDIT) and National Industrial Corridor Development Corporation Limited (NICDC).
- Apex Monitoring Authority with Finance Minister as Chairperson reviews the implementation.
