Central Cabinet Approves 12 Industrial Smart Cities

As part of the major structural development in an industrial sector as well, the industrial growth in India has witnessed a new dimension with the approval made by the Indian Cabinet chaired by the Prime Minister Narendra Modi to begin with the setting up of twelve industrial smart cities of NICDP. The decision which was arrived during the Cabinet meeting on Wednesday is a positive step in the government’s continuous onslaught to spur industrialization in different states.

Strategic Locations for Industrial Smart Cities

The government of different countries has recognized several areas of interest for the creation of these industrial smart cities. Some of them include Agra, Prayagraj in Uttar Pradesh and Gaya district in Bihar. These areas have been very chosen for the fact that they have potential of being industrialization whereby they will create employment to its people and economy boost to regions. The goal is to establish a colossal investment of Rs 28,602 crore which is expected to foster the industrial economy of the country and also provide employment to millions of people.

Massive Employment Opportunities

The government has great expectations about employment opportunity as a result of this project. It is expected that development of these industrial smart cities will create employment directly for about 10 lakh people. Also, in a trickle-down, first-round effect, this project for the Chinese company also promises employments 30 lakh other people indirectly, thus, benefitting the Indian economy quite well.

Details of the Industrial Corridors

The minister of union Ashwini Vaishnaw continued the details about the places where these industrial corridors are to be set up. The cities included in this development plan are: Orvakallu-Koparthi in Andhra Pradesh, Zaheerabad in Telangana, Jodhpur-Pali in Rajasthan, Khurpia in Uttarakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerala, Agra-Prayagraj in Uttar Pradesh and Gaya in Bihar. These industrial corridors are expected to attract investments of Rs 1 cannot take place without the help of organized finances. 52 lakh crore with a much improved industrial base of these zones and conglomerations.

Focus on Andhra Pradesh: Kopparthi Hub Development

A major achievement of this program is identified by creating an industrial estate in Kopparthi in Kadapa district of Andhra Pradesh. That is the government has earmarked 2,596 acres of land for this venture and for investment Rs 2,137 crore has been made. The Kopparthi hub is expected to provide employment to about 54,000 persons likely to make it a major catalyst for the growth of the local economy.

Not only in Kopparthi another industrial corridor in Orvakallu in Kurnool district of Andhra Pradesh is planned. In this particular venture, 2621 acres of land has been proposed on an investment of Rs 2786 crore. This corridor is expected to provide employment to approximately 45,000 people which shall also strengthen the industrial base of this state.

The establishment of these industrial estates in Andhra Pradesh is in line with the transformation of the state’s industrial strength, the pursuit of investment and sustainable employment. Concern for Andhra Pradesh in particular shows the government of India’s concern for sharing the wealth and resources all across the India so as to reduce the regional disparities.

A Broader Vision for Industrial Growth

These new smart industrial cities are an addition to the National Industrial Corridor Development Program that envisions the development of a strong and well-connected Industrial network throughout India. The government’s intention of placing these corridors in different states is to foster regional industrialisation, decentralization of industrial activities from crowded areas such as the Eastern region and create new nodes for socio-economic development.

These smart cities shall be well endowed with modern rail and road networks, good electricity, water and other social amenities as an invitation for local and foreign investors. These corridors are viewed by the government as power houses of the Indian economy with the potential to propel the industrial sector forwards, boost export capabilities, and increase the country’s connectivity to global value chains.

Employment and Economic Impact

The employment forecast related with NICDP is large sum of employment. The number of people that have been directly employed through this program is 10 lakh and for another 30 lakh people, there are opportunities of indirect employment. Some of the predicted impacts of creating these jobs includes fostering the local economies, decreasing the levels of unemployment and increasing the standards of living in the regions where the corridors will be established.

Also anticipated of invest Rs 1. Investment of Rs 52 lakh crore in these corridors should help foster further activities in the economy and support demand for the products and services which should help boost the GDP of the country. The NICDP embraces all round development of industrial cluster and it factors such as human resources and regional economic cooperation.

Conclusion

You could probably read about the Cabinet’s recent approval of the 12 industrial smart cities under the National Industrial Corridor Development Program as a significant move towards the industrialization of India. Being based on large-scope investment, employment generation, and regional development, the NICDP is capable of changing the industrial outlook of the country. These projects are supposed to have significant economic impact, help to decrease regional inequalities and make India a leading industrial nation.