In a significant stride towards realizing Prime Minister Narendra Modi’s vision of transforming India into a $5 trillion economy, the Indian government has unveiled ambitious plans to bolster infrastructure, develop smart cities, and position the nation as a global manufacturing hub. Rajinder Gupta, Chairman of Trident Group, recently shared his thoughts on this transformative journey, highlighting the potential impact of these initiatives on the country’s industrial landscape.
The announcement of 12 new ‘plug and play’ industrial parks in the recent Union Budget, along with the establishment of the National Industrial Corridor Development Programme, marks a pivotal step in India’s economic evolution. The programme includes the implementation of 32 projects across four phases under 11 corridors, all part of the National Infrastructure Pipeline. These corridors are set to revolutionize India’s industrial capabilities with multi-modal connectivity and adherence to global standards.
Key corridors such as the Delhi-Mumbai Industrial Corridor (DMIC), Amritsar-Kolkata Industrial Corridor (AKIC), Chennai-Bengaluru Industrial Corridor (CBIC), and others will serve as the backbone of India’s industrial revolution. The strategic development of these corridors aims to create a self-reliant, or Aatma Nirbhar Bharat, where industries can thrive and contribute significantly to the nation’s GDP.
One of the most eagerly anticipated projects is the Amritsar-Kolkata Industrial Corridor (AKIC). The Punjab Industrial Belt, particularly SMEs, is enthusiastic about this development. The Rajpura-Patiala Integrated Manufacturing Cluster (IMC), spread across 1099 acres and with an investment potential of INR 7500 crores, is expected to generate over 64,000 jobs in key sectors such as textiles, food and beverages, machinery, rubber, and pharmaceuticals.
These new projects, spanning 10 states under six corridors, represent a colossal investment of INR 28,602 crores. They hold the potential to attract investments worth INR 1,52,757 crores and create 9.39 lakh jobs. This initiative is not just about infrastructure development; it is a crucial step towards achieving the dream of a developed, or Viksit Bharat, by significantly boosting India’s industrial output and employment opportunities.
As India continues on this path of industrialization, these initiatives are expected to play a vital role in propelling the country towards its ambitious economic goals, ensuring a prosperous future for its industries and citizens alike.