On anvil: Manufacturing zones worth 12,500 acre

New Delhi : Boosting massive industrialization aimed at pushing the current 15 percent manufacturing share in the GDP to 25 percent in the next one and a half decades, the government has decided to set up sprawling China style National Industrial and Manufacturing Zones (NIMS) housing residential space, public utility services, production units, skill development centers, world class schools and hospitals across the country stretching on an area of 12,500 acre with potentials of generating 100 million jobs.

As per reports, the inter-ministerial meeting recently chaired by the Prime Minister Manmohan Singh has given a go ahead signal for setting up such zones. The policy for the creation of mega zones has been pegged at allowing rationalization and simplification of business regulations, simple and expeditious exit mechanism for sick units, financial and institutional mechanisms for technology development and skill upgrading initiatives, incentives for small industries and a provision of government procurement including in areas of defence and trade.