The government’s announcement to upgrade industrial infrastructure and provide information on ranking of industrial parks will help the country attract both domestic and foreign potential investors, according to experts. Finance Minister Nirmala Sitharaman announced that a scheme will be implemented in states for industrial cluster upgradation of common infrastructure facilities and connectivity. She also said information related to land bank for promoting new investments would be available on Industrial Information System with GIS mapping. Lot of global corporations are envisaging interest in India as their manufacturing hub. The government’s industrial information system (IIS) will provide an easy ready reckoner for global investors to set up their manufacturing locations in India, generating significant employment in the process, as per reports.
India has been improving on the ease of doing business index over the past five years and coupled with the Make-in-India call, the country is becoming an attractive investment destination for the world.
Industry chamber PHDCCI said the announcement on industrial clusters’ upgradation along with releasing rankings of industrial parks in 2020-21 and ranking of states on investment attractiveness will go a long way in transforming the industrial sector with improved common infrastructure facilities and connectivity.
Upgrading existing industrial infrastructure, providing information on parks and mapping them on GIS will help investors in identification of location. Besides, promoting competitiveness among states by ranking industrial parks will pave the way for standardization of approach towards industrial ecosystem creation, added report.