Massive Job Creation: Indian Government Approves 12 Projects Worth INR 28,602 Crore To Transform Industrial Landscape, Creation of 40 Lakh Jobs
In a landmark decision, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved 12 new project proposals under the National Industrial Corridor Development Programme (NICDP) worth Rs 28,602 crore.
New Delhi, August 28: In a landmark decision, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved 12 new project proposals under the National Industrial Corridor Development Programme (NICDP) worth Rs 28,602 crore. The decision is expected to generate significant employment opportunities, with an estimated 1 million direct jobs and up to 3 million indirect jobs through planned industrialisation.
These industrial nodes will act as catalysts for achieving $2 trillion in exports by 2030, reflecting the government's vision of a self-reliant and globally-competitive India. With this decision, the country is set wear a grand necklace of industrial smart cities on the backbone of ‘Golden Quadrilateral.’ Spanning across 10 states and strategically planned along six major corridors, the industrial areas will be located in Khurpia in Uttarakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerela, Agra and Prayagraj in Uttar Pradesh, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in Andhra Pradesh and Jodhpur-Pali in Rajasthan. Investment in India: Germany-Based Tech Manufacturing Giant ZF Group To Invest Around INR 18,700 Crore in India in Next 6 Years.
The move is set to transform the industrial landscape of the country, creating a robust network of industrial nodes and cities that will significantly boost economic growth and global competitiveness. The CCEA said that NICDP is designed to foster a vibrant industrial ecosystem by facilitating investments from both large anchor industries and micro, small and medium enterprises (MSMEs).
According to the government, the new industrial cities will be developed as greenfield smart cities of global standards, built “ahead of demand” on the “plug-n-play” and “walk-to-work” concepts. Aligned with the PM GatiShakti National Master Plan, the projects will feature multi-modal connectivity infrastructure, ensuring seamless movement of people, goods, and services.
By positioning India as a strong player in the Global Value Chain (GVC), the NICDP will provide developed land parcels ready for immediate allotment, making it easier for domestic and international investors to set up manufacturing units in the country. The approval of 12 new industrial nodes under the NICDP marks a significant milestone in India's journey towards becoming a global manufacturing powerhouse. Apple Layoffs: iPhone-Maker Cutting 100 Jobs in Its Digital Services Group as Part of Shift in Priorities for Critical Division.
With a strategic focus on integrated development, sustainable infrastructure, and seamless connectivity, these projects are set to redefine India's industrial landscape and drive the nation's economic growth for years to come.
(The above story first appeared on LatestLY on Aug 28, 2024 04:33 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).