Some notable examples include the PLI scheme and the employment-linked incentive scheme announced in the recent Union Budget.
The Budget also announced the setting up of 12 industrial parks under the National Industrial Corridor Development Programme (NICDP). The NICDP initiative seeks to leverage significant opportunities for manufacturing growth while simultaneously creating an ecosystem that fosters competitiveness and spurs investment-led virtuous economic growth cycle.
Reorganisation of global supply chains and integration into global value chains together with the right enablers for Indian industry to be competitive can trigger a multiplier effect centred around manufacturing, therefore, the recent CCEA approval to 12 smart industrial cities under the NICDP, is a path breaking move that will act as a catalyst to realising India's aspirations of becoming a global manufacturing hub.
This strategic initiative envisages investments upwards of ₹28,600 crore to develop greenfield smart cities of global standards and create a network of industrial nodes across the country. The 12 cities are aligned to the golden quadrilateral and the PM Gati Shakti National Master Plan, and will have access to multi-modal connectivity infrastructure.
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TRUTH BE TOLD
