Twelve greenfield projects under the government’s National Industrial Corridor Development Program are expected to create employment opportunities for 940,000 people, according to a year-end report released by the Ministry of Industry and Internal Trade Promotion on Friday.
These greenfield projects under the National Industrial Corridor Development Project will require an investment of Rs 28,602 crore and cover an area of 25,975 acres. Within five years, these projects are expected to attract investments of Rs 150 crore and create employment opportunities for 940,000 people.
These projects are located in less industrialized areas to focus on planned industrialization and balanced regional development. These projects aim to become growth hubs that promote regional transformation and attract investment. Infrastructure costs will include trunk infrastructure and land costs, with states already owning the required land.
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The 12 greenfield projects will include semiconductors, aerospace and defence, IT and ITeS, electronics and system equipment manufacturing (ESDM), engineering and logistics, automotive and auto parts, renewable energy, pharmaceuticals, textiles and apparel, food and beverages and other industries.
These industries are determined based on market demand and the country’s long-term industrial strategy.
The greenfield program aims to build infrastructure ahead of demand and ensure that industrial land that can be allocated immediately attracts investment immediately, the statement said.
In addition to the eight projects already approved, the five-year strategic plan also includes the development of 12 new industrial cities in accordance with Industry 4.0 standards.
Meanwhile, under the National Industrial Corridor Development Project, 308 plots covering 1,789 acres have been allotted in four cities including Dholera, Shendra Bidkin, Greater Noida and Vikram Udyogpuri till June 2023.
In addition, 2,104 acres of developed industrial land and 2,250 acres of land for commercial, residential and other uses are available for immediate allocation. Currently, 68 companies have started commercial operations in these cities and 83 projects are under construction.