The Union Cabinet's decision to establish 12 new industrial cities across ten states, with an estimated investment of Rs 28,602 crore, is set to significantly enhance domestic manufacturing and job creation, according to experts.
Kushal Kumar Singh, a partner at Deloitte India, emphasized that this initiative shows the government's dedication to strengthening the manufacturing sector. The development of industrial cities is expected to provide top-tier infrastructure, which will establish India as a key player in global manufacturing, improving the sector's GDP contribution, and generate a wealth of job opportunities. Singh remarked that this effort is vital for enhancing local production and reaching the goal of a $5 trillion economy.
Arun Kumar, Partner at INDUSLAW, highligted that the proposed industrial cities, including locations in Bihar, Andhra Pradesh, and Punjab, aim to expand the benefits of industrialization and multimodal connectivity.
He said that the initiative balances sustainability, planned urbanization, and industrial development, aiming to reduce logistical and business costs.
Kumar highlighted that the approach of the National Industrial Corridor Programme amalgamates business and residential investment prospects to draw additional investment and propel economic expansion.
(With PTI Inputs)
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