An industrial park is a designated area developed to facilitate industrial activity. It offers a range of common facilities, including:
• Infrastructure: Roads, electricity, water supply, and sewage treatment. • Services: Effluent treatment plants, security, and basic amenities like housing and offices. • Specialized Features: Some parks provide a Single Window System to streamline various processes, such as obtaining necessary clearances and permits.
WHERE ARE INDUSTRIAL PARKS LOCATED IN INDIA?
Industrial parks are predominantly located in the Western and Southern regions of India, accounting for 83% of the total area allocated for industrial development. Key states include:
• Tamil Nadu (15.95%)
• Maharashtra (18.82%)
• Gujarat (17.89%)
• Rajasthan (8.93%)
• Karnataka (7.58%)
HOW DOES THE 2024 UNION BUDGET AFFECT INDUSTRIAL PARKS?
The 2024 Union Budget proposes the development of 12 new industrial parks under the National Industrial Corridor Development Programme (NICDP). Key features include:
• Sector-Specific Focus: Parks will cater to specific industries, such as electronics, pharmaceuticals, and automotive sectors. • Enhanced Infrastructure: Introduction of modern facilities and streamlined processes to attract investments and enhance productivity.
WHAT MAKES THE NEW INDUSTRIAL PARKS DIFFERENT?
The newly proposed industrial parks emphasize future-ready infrastructure and sector-specific development. They include:
• Plug-and-Play Infrastructure: Ready-to-use facilities to reduce setup time for industries. • Special Purpose Vehicles (SPVs): SPVs are used to manage these parks efficiently.
WHAT ARE INDUSTRIAL CORRIDORS?
Industrial corridors are regions designated for industrial development and infrastructure growth. They connect major industrial cities and ports, facilitating smooth transportation and logistics. Key corridors include:
India has various types of industrial parks catering to different sectors and investment needs:
• Mixed-Use Parks: General-purpose parks catering to a wide range of industries. • Sector-Specific Parks: Focused on specific sectors like electronics, software, or pharmaceuticals. • Special Economic Zones (SEZs): Designated areas with special tax and business incentives to attract foreign investment.
HOW DOES THE SINGLE WINDOW SYSTEM WORK IN INDUSTRIAL PARKS?
The Single Window System is a mechanism that simplifies the administrative processes required to establish and operate industries. It includes:
• One-Stop Platform: Centralized access to all necessary clearances and approvals. • Time Efficiency: Reduces the time and effort required to set up industrial operations.
WHAT ARE THE FUTURE PLANS FOR INDUSTRIAL PARK DEVELOPMENT?
The government plans to continue expanding industrial parks, with an emphasis on specialized and sector-specific parks. There are 32 projects currently under development across 11 industrial corridors, with significant investment in infrastructure and technology.
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