CCEA Drives Manufacturing and Infrastructure Projects to Enhance Economic Growth

Boosting Manufacturing and Infrastructure in India

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday cleared a slew of infrastructure projects, including 12 new industrial nodes or cities and three rail projects connecting key industrial locations with a total investment of around ₹35,000 crore. In addition, the Cabinet approved provision of Central Financial Assistance (CFA) to state governments in the north-east region towards their equity participation for the development of hydro-electric projects while expanding the Central sector scheme of financing under the ‘Agriculture Infrastructure Fund’ to help raise farmers’ incomes.

The Cabinet approved a proposal for the 3rd batch of e-auctions under the Private FM Radio Phase III Policy. These auctions will be for 730 channels in 234 new cities with an estimated reserve price of ₹784.87 crore.

Investment Towards Aatmanirbhar Bharat

In the last three months, the Cabinet has approved infrastructure projects worth over ₹2 trillion, and Wednesday’s decision adds to government’s focus on building manufacturing and strengthening infrastructure to take India closer to its goal of Viksit Bharat by 2047, information and broadcasting minister Ashwini Vaishnaw said.

• b>The new smart industrial cities will be an extension of existing industrial corridors, boosting manufacturing and attracting investments of over ₹1.5 trillion.
• These projects are expected to create one million direct jobs with total central investment estimated at ₹28,602 crore.

Transforming India's Industrial Landscape

Aligning with the vision of Viksit Bharat, these projects will cement India’s role in global value chains with ready-to-allot land for investors. The projects are designed to create a grand necklace of industrial smart cities on the backbone of the Golden Quadrilateral, Vaishnaw stated.

Spanning 10 states and strategically planned along six major corridors, these new industrial clusters are expected to transform the industrial landscape of the country, creating a network of industrial nodes and cities that will significantly boost economic growth and global competitiveness.

• Approved projects will also enhance logistical efficiency by connecting unconnected areas.
• Increase existing line capacity and improve transportation networks, resulting in streamlined supply chains and accelerated economic growth.

Focus on Economic Pillars

The new industrial cities will be developed as greenfield smart cities of global standard, strengthening the foundation for a more resilient economic future.