Cabinet Approves 12 New Cities With Plug & Play Infrastructure Across Multiple States

ENA Economy 2024-08-29 15:17:18 New Delhi, Aug 29 (KNN) In a significant move to boost India's industrial landscape, the Cabinet Committee on Economic Affairs has given the green light for the development of 12 new industrial cities across multiple states. This ambitious project, with a total investment of Rs 28,600 crore, is set to transform the country's manufacturing sector and create substantial employment opportunities. The initiative, aimed at providing plug-and-play infrastructure for industries, will see the largest development near Dighi port in Maharashtra, spanning an impressive 6,000 acres. This timing is particularly noteworthy as Maharashtra heads into election season. The project's reach extends across India, with cities planned in both NDA-allied and opposition-governed states. Bihar and Andhra Pradesh, both led by NDA allies, will see developments in Gaya, Orvakal, and Kopparthy. BJP-governed states are also beneficiaries, with projects slated for Agra and Prayagraj in Uttar Pradesh, Khurpia in Uttarakhand, and Jodhpur Pali Marwar in Rajasthan. Opposition-ruled states haven't been left out, with projects earmarked for Rajpura Patiala in Punjab, Palakkad in Kerala, and Zaheerabad in Telangana. The location of the 12th project remains undisclosed due to the model code of conduct in force for assembly polls. Commerce and Industry Minister Piyush Goyal expressed optimism about the project's economic impact, stating, These projects have the potential to generate investment of over Rs 1.5 lakh crore. But the estimates are conservative. He further added that the initiative is expected to create nearly 10 lakh jobs. A key feature of this ambitious plan is the accelerated timeline for development. Unlike previous projects that have faced delays, the government aims to develop basic infrastructure within three years. This rapid development is made possible by the readiness of states with land and environmental clearances. The implementation model involves a partnership between the Centre and state governments. Special purpose vehicles (SPVs) will be established, with states contributing land as their equity share, matched by an equivalent cash investment from the Union government. This large-scale industrial development initiative represents a significant step towards enhancing India's manufacturing capabilities and creating a more robust economic landscape. As the project unfolds, it will be crucial to monitor its progress and impact on regional development and job creation across the country. (KNN Bureau) 39093 https://knnindia.co.in/news/newsdetails/economy/cabinet-approves-12-new-cities-with-plug-play-infrastructure-across-multiple-states 2024-08-29 15:17:18 knnindia.co.in Cabinet Approves 12 New Cities With Plug & Play Infrastructure Across Multiple States