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The Indian government has taken a significant step towards bolstering its manufacturing sector and fostering economic growth by greenlighting the construction of 12 industrial smart cities across 10 states. The ambitious project, announced by Union Minister Ashwini Vaishnaw, will be implemented along six major industrial corridors, with an earmarked investment of Rs 28,602 crore. These cities are envisioned as hubs of innovation and advanced manufacturing, playing a pivotal role in transforming India's industrial landscape.
The project goes beyond mere infrastructure development. It promises to create a robust ecosystem for industrial activity, attracting both large anchor industries and Micro, Small, and Medium Enterprises (MSMEs). The cities will be built with a focus on “plug-n-play” and “walk-to-work” concepts, facilitating a seamless and efficient environment for businesses. This focus on ease of doing business aims to attract domestic and international investments, further propelling economic growth.
The government's vision extends beyond immediate economic gains. The project is projected to create a massive employment opportunity, generating nearly 10 lakh direct jobs and an additional 30 lakh indirect jobs. This positive impact on the labor market is expected to have a significant ripple effect on the overall economy, contributing to increased purchasing power and improved standards of living. The project is also aligned with the broader objective of achieving ‘Atmanirbhar Bharat’, a self-reliant India, by promoting domestic manufacturing and reducing dependence on imports.
The industrial smart city project is a testament to India's commitment to becoming a global manufacturing powerhouse. By positioning itself as a hub for advanced industries and creating a favorable investment climate, India seeks to attract global value chains and establish itself as a key player in the global market. With an ambitious goal of achieving $2 trillion in exports by 2030, these smart cities are expected to play a crucial role in realizing this vision. The project is poised to contribute significantly to India's economic growth and its emergence as a leader in the global industrial landscape.
Source: "12 New Smart Cities, 10 Lakh New Jobs": Ashwini Vaishnaw On Cabinet Decisions