Industrial smart cities to be ready by 2027: Commerce and industry minister Piyush Goyal

Industrial smart cities to be ready by 2027

The 12 industrial cities announced by the government will be ready within the next three years if states co-operate on the projects, said commerce and industry minister Piyush Goyal on August 28.

Addressing the media post the Cabinet briefing, Goyal, noted that the government had already obtained environmental clearance for these projects, so investors could come and start work immediately.

He highlighted that the 12 industrial cities could create an additional 3-5 million indirect jobs in addition to nearly a million direct employment and attract at least Rs 1.5 lakh crore investment.

The other smart cities already in development  have attracted Rs 1.7 lakh crore of investment till now.

Goyal also noted that the ministry was already getting interests from countries like Switzerland and Singapore for collaboration on industrial smart cities.

“We have held talks with ITE in Singapore on collaboration on skill development,” the minister stated.

The 12 industrial greenfield industrial smart cities entail a project cost of Rs 26,800 crore, which is shared equally by centre and states.

The land cost of projects, which is furnished by states, is Rs 11,000 crore. Additionally, there is a Rs 2,000-crore debt component by the Centre, which will have to be repaid within 10 years.

“The creation of smart industrial smart cities will help cover the country like golden quadrilateral. We will consult with state governments to create multi-modal hubs. These projects will be like beads on a necklace,” Goyal noted.

The Cabinet on August 28 approved the creation of 12 industrial smart cities, besides the eight that are already in various stages of completion.