New Delhi, Mar 13 (KNN) The Federation of Indian Micro and Small & Medium Enterprises (FISME) has been nominated to be part of the steering committee providing guidance on the framework for the Industrial Park Rating System (IPRS) 3.0.

IPRS 3.0 is an ambitious initiative by the Department for Promotion of Industry and Internal Trade (DPIIT) aimed at enhancing India's industrial infrastructure competitiveness.

Recognising the pivotal role of a robust industrial ecosystem, DPIIT has constituted a multi-stakeholder 'Steering Committee' comprising experts from government ministries, departments, agencies, former bureaucrats, advisors, think tanks, and industry associations like FISME.

This panel will steer the development of IPRS 3.0, building on insights from global best practices, major DPIIT programs, and learnings from previous IPRS iterations.

The rating system facilitates both qualitative and quantitative assessments of industrial parks, focusing on four key pillars: internal infrastructure, external infrastructure, business support services, and environment and safety management.

Through standardised ratings, this system empowers investors to make informed decisions and pinpoint the most suitable industrial parks for their investments.

Expanding upon previous versions, DPIIT aims to broaden the reach and improve the quality of the Industrial Park Rating System (IPRS) with the introduction of 'IPRS 3.0'.

Originally piloted in 2018 with support from the ADB, the IPRS initiative evaluated 177 out of 202 nominated parks across 21 States/UTs.

Building upon this foundation, DPIIT launched IPRS 2.0 in alignment with the 'Aatmanirbhar Bharat Abhiyan', assessing 449 parks across 31 States/UTs based on input from developers (60 per cent weightage) and tenants (40 per cent).

Furthermore, DPIIT conducted gap assessment workshops in collaboration with Invest India, ADB, and PwC to refine the framework and organised a national workshop to drive forward India's industrial competitiveness.

(KNN Bureau)