(MENAFN- KNN India) New Delhi, Sept 4 (KNN) Commerce Minister Piyush Goyal's office commended the government's initiative to establish 12 new industrial smart cities as part of the National Industrial Corridor Development Programme (NICDP), stating that this move would stimulate the growth of Micro, Small, and Medium Enterprises (MSMEs) and create new job opportunities.

The office stated that it would 'transform India's manufacturing sector, create a virtuous cycle of growth and promote MSMEs & employment generation.' The project, with an estimated cost of Rs 28,602 crore, aims to develop industrial clusters across 10 states.

The proposed locations for these smart cities include Khurpia (Uttarakhand), Rajpura-Patiala (Punjab), Dighi (Maharashtra), Palakkad (Kerala), Agra and Prayagraj (Uttar Pradesh), Gaya (Bihar), Zaheerabad (Telangana), Orvakal and Kopparthy (Andhra Pradesh), and Jodhpur-Pali (Rajasthan).

Vedanta Group Chairman Anil Agarwal endorsed the initiative, emphasising its potential to stimulate manufacturing, particularly for Micro, Small, and Medium Enterprises (MSMEs).

Agarwal noted, "Industrial clusters are a globally proven approach where large anchor industries become the big tree around which hundreds and thousands of MSMEs take root, creating lakhs of jobs."

The government anticipates that these industrial cities will play a crucial role in achieving its target of USD 2 trillion in exports by 2030.

Additionally, the project is expected to generate approximately 1 million direct jobs and up to 3 million indirect jobs.

In a related development, Vedanta recently announced plans to establish two non-profit industrial parks focused on zinc, silver, and aluminium production, allowing businesses to set up operations with investments starting from Rs 5 crore.

This ambitious project underscores the government's commitment to enhancing India's industrial infrastructure and fostering economic growth through strategic development initiatives.

(KNN Bureau)

MENAFN04092024000155011030ID1108634515