NICA can get large scale investments for Pune

Budget allocated Rs 100 crore for the creation of NICA, which many feel would boost the industrial activities in the belt

Pune's business community is delighted with the two major announcements made in the Union Budget. This includes-- the setting up of the headquarters of National Industrial Corridor Authority (NICA), and creation of  an agri-biotech cluster like in Mohali,Punjab through collaborations in the public and private sector.

The budget also allocated Rs 100 crore for the creation of NICA, which many feel would boost the industrial activities in this belt.

"The National Industrial Corridor with headquarters in Pune can bring in improved infrastructure, large scale industrial investment and viable industrial clusters for higher level of technology infusion.  It will reinforce Pune’s stature as a hub of industrial resurgence, said M S Unnikrishnan, MD & CEO, Thermax.

According to many industry experts ,this will help city based companies, firms, service providers and industries to participate in the development. Also, the city has a proximity to two major industrial corridors- the Mumbai-Bangalore corridor with participation from UK India Trade Initiative (UKTI) and the second is Delhi Mumbai industrial corridor which is coming up with Japanese assistance.

Anant Sardeshmukh, director general of MCCIA said, "This project will bring improved infrastructure, large scale industrial investment and viable industrial clusters, infusing higher level of technology. It could well reinforce Pune's stature as the hub for industrial resurgence."

The announcement of smart cities and setting up of REITs has also send cheers among the cities developer community.  "The budget, given the constraints faced by the Finance Minister is extremely positive for many sectors.  The government has shown its focus and concern for urban development by addressing the areas of urban renewal & smart cities.  With regard to real estate, there are several measures that are positive.  For the home buyer, the increase in the deduction of interest paid for self-occupied homes from Rs 1.5 lakh to Rs 2 lakh is of help to the home buyer." Kumar Gera, Kumar Gera, Chairman Gera Developments & Founder President CREDAI,

Pune's existing industrial clusters consist of Pimpri- Chinchwad, Chakan, Ranjangaon, Talegaon and Hadapsar, home to more than 15,000 small and medium enterprises.

According to Pramod Chaudhari, executive chairman, Praj Industries This budget would lay the foundation for reviving most of socio-economic objectives and set the ball rolling for sustained GDP growth while controlling fiscal deficit.

"The Government's directive to allocate Rs 7,060 crore to the development of Smart Cities is a powerful move, as it will enable development of digital technology to provide efficient solutions for requirements such as urban transportation, traffic management and even electricity and water supply,"  said Anil Patwardhan, senior VP corporate finance and governance at KPIT Technologies.