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Make Land And Electricity Reasonably Priced To Attract Investment: Goyal To States

The minister said that the industrial parks will be regarded as successful only if investment flows in

Photo Credit : PIB

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Piyush Goyal

States must ensure affordable accommodation and canteens for workers so that slums don’t come up in industrial parks, said Union Minister Piyush Goyal while speaking at the 1st meeting of the apex monitoring authority constituted to review the activities of the national industrial corridor development programme. 

Goyal said that there is a need to focus on attracting investors quickly in these Industrial Corridors and asked NICDIT as well as States to have road shows to attract businesses. 

The minister said that the industrial parks will be regarded as successful only if investment flows in. 

“We must allow the land fast. The land should be reasonably priced for the industry and we should allow innovative ways such as different lease periods, lease premium payment flexibility, rental model, and lease cum rent option. Electricity rate is another thing investors look at closely. We need to have affordable and consistent rates. High rates of electricity are a deterrent to the industry," he added. 

Goyal warned that if the existing parks are not put to good use, then the Centre would not support any new parks. 

The minister also urged the States to ensure affordable accommodation and canteens for workers so that slums don’t come up in industrial parks.


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Union Minister piyush goyal