India Launches 12 New Industrial Smart City Projects
On August 28, 2024, the Government of India approved 12 new industrial smart city projects, marking a significant step in the country’s infrastructure development. With a total project cost of ₹28,602 crore, these initiatives aim to enhance trunk infrastructure across various regions. The National Industrial Corridor Development and Implementation Trust (NICDIT) will oversee the funding and development of these projects. The state governments will provide the necessary land, while the central government will contribute equity for the internal infrastructure components. The construction of these projects is expected to take between 36 to 48 months from the appointment of the Engineering, Procurement, and Construction (EPC) contractor.
Overview of the National Industrial Corridor Programme
The National Industrial Corridor Programme is a strategic initiative aimed at promoting industrial growth in India. It focuses on developing smart cities that can accommodate modern industries and provide essential services. Each industrial city or area is managed by a Special Purpose Vehicle (SPV), which may include private sector representation as decided by the state government. This structure allows for innovative funding and delivery methods, such as user fee funding and public-private partnerships (PPP).
The program is designed to cater to various sectors, including heavy engineering, pharmaceuticals, electronics, and information technology. Each smart city will undergo a market demand assessment to identify its focus sectors. This tailored approach ensures that the industrial corridors align with regional strengths and market needs, fostering sustainable economic growth.
Details of the Newly Approved Projects
The approved projects span multiple states and corridors, each with unique characteristics and development stages. For instance, the Delhi-Mumbai Industrial Corridor (DMIC) includes the Dholera Special Investment Region in Gujarat and the Shendra Bidkin Industrial Area in Maharashtra, both of which have completed trunk infrastructure. Other projects, such as the Integrated Industrial Township in Greater Noida, Uttar Pradesh, are also part of this corridor.
The Chennai-Bengaluru Industrial Corridor (CBIC) features projects like the Krishnapatnam Industrial Area in Andhra Pradesh and the Tumakuru Industrial Area in Karnataka, both currently under development. Additionally, the Amritsar-Kolkata Industrial Corridor (AKIC) includes several projects across northern India, such as IMC Khurpia Farm in Uttarakhand and IMC Rajpura Patiala in Punjab.
These projects are not only expected to boost local economies but also create job opportunities and enhance the overall quality of life for residents in these regions.
Future Prospects and Focus Sectors
The future of these industrial smart cities looks promising, with a clear focus on various sectors that are crucial for India’s economic development. The government has identified several key areas, including automotive, pharmaceuticals, electronics, and food processing, as potential growth sectors. The emphasis on these industries aligns with global trends and market demands, positioning India as a competitive player in the international market.
Moreover, the government encourages bilateral and multilateral funding to support these initiatives. This approach will help attract foreign investment and expertise, further enhancing the capabilities of these smart cities. The integration of advanced technologies and sustainable practices will also be a priority, ensuring that these industrial hubs are not only economically viable but also environmentally friendly.
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