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The Indian government has announced a significant investment of ₹35,000 crore in infrastructure and manufacturing projects, aiming to accelerate economic growth and generate employment. This investment package includes the development of 12 new industrial nodes or cities across various states, along with three railway projects connecting key industrial locations. The government's ambitious plan aims to strengthen the country's infrastructure backbone and create a conducive environment for attracting investments and promoting manufacturing activities.
The newly approved industrial cities are strategically located along six major corridors, spanning 10 states. These greenfield smart cities are designed to adhere to global standards and incorporate 'plug-n-play' and 'walk-to-work' concepts, ensuring seamless and efficient operations. These industrial areas will cater to a range of sectors, including food and agro processing, information technology, telecommunications, garnets, textiles, engineering, fabrication, and pharma equipment, leveraging existing linkages in the surrounding regions.
In addition to infrastructure development, the cabinet also approved an expansion of the Central Sector Scheme of Agriculture Infrastructure Fund. This expansion aims to further support farmers by providing funding for the creation of infrastructure, including warehouses, cold stores, and silos, aimed at enhancing value addition to their products. The initiative intends to increase the scope of eligible projects, integrate additional measures to strengthen the agricultural infrastructure ecosystem, and allow convergence with other schemes like PM-KUSUM for promoting sustainable clean energy solutions.
The government's focus on infrastructure development and agricultural growth aligns with its vision of a 'Viksit Bharat' by 2047. The projects approved are expected to transform India's industrial landscape, create new employment opportunities, and boost the country's global competitiveness. The combination of infrastructure development, manufacturing incentives, and agricultural support reflects a comprehensive approach to economic growth and prosperity, highlighting the government's commitment to creating a vibrant and self-reliant India.
Source: Government gives ₹35K-crore manufacturing, infra push to accelerate growth, generate employment