Cabinet Approves 12 New Industrial Nodes

On 28th August, 2024, India's Cabinet gave the green light to 12 new industrial projects under the National Industrial Corridor Development Programme (NICDP), investing ₹28,602 crore to reshape the country's industrial landscape.

Key Points

Strategic Investments: The NICDP aims to boost India's industrial ecosystem by attracting investments from large industries and MSMEs, supporting the goal of achieving $2 trillion in exports by 2030.
Smart Cities Development: The new industrial cities will be built as greenfield smart cities with advanced 'plug-n-play' and 'walk-to-work' concepts, ensuring they are ready for immediate industrial use and sustainable operations.
Multi-Modal Connectivity: Aligned with the PM GatiShakti National Master Plan, these cities will feature multi-modal connectivity to facilitate efficient movement of people, goods, and services.
Vision of 'Viksit Bharat': The projects are part of the 'Viksit Bharat' vision, aiming to position India prominently in Global Value Chains with readily available land for investors, fostering self-reliance and economic growth.
Economic Impact and Jobs: The NICDP is expected to create approximately 1 million direct jobs and up to 3 million indirect jobs, contributing significantly to regional socio-economic development.