The Union Cabinet, led by Prime Minister Narendra Modi, has approved a substantial package of Rs. 25,000 crore for the establishment of 12 industrial parks across several states. The decision, made on Wednesday, is set to impact Andhra Pradesh, Telangana, Bihar, Punjab, Uttar Pradesh, Kerala, and other regions. This ambitious initiative is expected to foster substantial industrial growth and economic progress in the targeted States.
The Central government anticipates that the new projects will attract investments totaling approximately Rs. 1.5 trillion. According to central finance department officials, the plan involves developing medium-sized industrial cities that will feature residential and commercial areas, thereby enhancing foreign investment opportunities, boosting domestic manufacturing, and creating significant employment opportunities.
The establishment of these industrial parks is seen as a strategic effort to invigorate regional economies and facilitate a more robust industrial infrastructure across the nation.