Strong global interest in industrial cities: NICDC chief Rajat Kumar Saini

East Asian and European investors keen to engage with infrastructure programme, says Rajat Kumar Saini

India’s plan to develop industrial smart cities is picking up pace, attracting investment interest from major East Asian economies, said Rajat Kumar Saini, chief executive officer and managing director of NICDC, on Friday.

 

The infrastructure programme being carried out by the National Industrial Corridor Development Corporation Limited aims to develop industrial smart cities and industrial parks across India.

 

“NICDC cities continue to draw strong global interest. There have been active engagements from Japan, Korea, and Singapore, alongside growing interest from Germany, Italy, UAE (United Arab Emirates), the UK (United Kingdom), Taiwan, Russia, among others,” Saini told Business Standard, adding that the interests continue despite the geopolitical tensions and uncertainties.

 

Investors are interested in advanced manufacturing, semiconductors, electronics, pharmaceuticals, aerospace, defence, and other sectors.

 

Under the government’s National Industrial Corridor Development Programme, as many as 20 industrial smart cities are being developed across industrial corridors. The programme aims to create world-class infrastructure and make India a global manufacturing hub.

 

Its first phase has completed major trunk infrastructure in four cities: Dholera in Gujarat, Shendra-Bidkin in Maharashtra, Greater Noida in Uttar Pradesh, and Vikram Udyogpuri in Madhya Pradesh.

 

According to Saini, these cities, developed on the ‘walk-to-work’ concept, have attracted more than Rs 2.02 trillion worth of investments. More than 100 industrial units are operational and another 100 are under construction.

 

Saini said that the growing foreign investments in industrial cities show India’s potential as a global manufacturing hub. Multinational companies, such as Toyota from Japan, Lubrizol from the United States, NLMK from Russia, Germany’s Siemens, Oerlikon from Switzerland, Hyosung from South Korea, Perkins from the UK have established operations in cities developed by NICDC –  which has been possible due to the benefits of the industrial corridor strategy.

 

Industrial projects are being developed in Krishnapatnam in Andhra Pradesh and Tumakuru, Karnataka, along with large-scale logistics hubs at Nangal Chaudhary in Haryana and Greater Noida. As many as 12 projects are under various stages of development, he said.