Union Commerce and Industry Minister invites businesses to locate to modern industrial townships like Aurangabad Industrial City

Industrial Smart cities have been master-planned to international standards: Union Commerce and Industry Minister

Maharashtra aspires to be a trillion-dollar economy in next 6 - 7 years: Maharashtra Deputy Chief Minister

Union Minister for Commerce and Industry Piyush Goyal attended a roundtable conference of investors in Mumbai today. The 4th NICDC Investors' Roundtable Conference was organized by Maharashtra Industrial Township Limited (MITL).

Making a strong pitch for Industrial Smart Cities like Aurangabad Industrial City (AURIC), Union Commerce Minister said “It makes eminent business sense to locate to modern industrial townships like AURIC. These industrial smart cities have been master-planned to international standards. Industries coming to these nodes will power the manufacturing sector in the country”.

MITL’s flagship industrial area, the Aurangabad Industrial City or AURIC, is one of the most well-developed Industrial Smart Cities in the world. With dedicated residential spaces and investment of over Rs. 7,000 crores, it is a beacon of industrial development in the Marathwada region. AURIC has planned to develop a MITRA Textile Park with the support of Ministry of Textiles under the PM MITRA Scheme, a Mega Food Park and an International Convention Centre there, making it a truly global investment destination.

Encouraging investors, the Minister said the Government is committed to keep logistics costs down and increase Ease of Doing Business. He assured that the Government will do everything to address the requirements of various stakeholders.

Speaking about the National Single Window System for Business Approvals, the Union Minister said that Government’s aim behind Single Window System is to ensure that a person sitting anywhere in the world should be able to get all approvals to locate their business in India, buy land or set up business in the country, with a click of a button.

National Industrial Corridor Development Corporation (NICDC) is a Special Purpose Vehicle that envisages to establish, promote and facilitate development of the National Industrial Corridor Development Programme, India’s most ambitious infrastructure programme aiming to develop new industrial cities as “smart cities” and converging next generation technologies across infrastructure sectors. The programme is aimed at providing impetus to planned urbanization in India with manufacturing as the key driver.

Union Minister said the Central and state governments are working hand in hand to transform the country. Asserting his confidence in Maharashtra, he said  “I am certain that under the current leadership, Maharashtra will once again prove itself to be the most industrialized, progressive and fastest growing state in the country.”

Reiterating the significance of the infrastructure sector for economy, the Union Minister said that there are various examples wherein infrastructure has created power and economy and brought alive new opportunities. “We have nearly ₹111 Lakh crore National Infrastructure Pipeline and a large part of it is in Maharashtra. The metro project, the trans-harbour link, the coastal road project and the expansion of express ways are landmark projects that will benefit Maharashtra in a big way”.

The Minister said that Macroeconomic fundamentals are strong, infrastructure is being built at a rapid pace and India is the destination the world is looking up to. “Together we can make India the future of the world”.

Deputy Chief Minister of Maharashtra, Devendra Fadnavis said that Maharashtra aspires to be a trillion dollar economy in next 6 - 7 years. Addressing the investors, Devendra Fadnavis said: “We have tailor-made package of incentives for investors. We are also addressing the special needs of the industry.”

MITL, formerly known as Aurangabad Industrial Township Limited, is a joint venture between Government of India and Government of Maharashtra.