Nod to 3 National Investment & Manufacturing Zones, more on cards
New Delhi, Dec 27 (IBNS): The Centre has accorded final approval to three National Investment & Manufacturing Zones (NIMZs) and in-principle approval to 13 more, Union minister of state for commerce and industry C.R. Chaudhary has said.
The three approved NIMZs are Prakasam (Andhra Pradesh), Sangareddy (Telangana) and Kalinganagar (Odisha). Besides these, eight Investment Regions along the Delhi Mumbai Industrial Corridor (DMIC) project have also been declared as NIMZs.
While the main objective of Special Economic Zones is promotion of exports, NIMZs are based on the principle of industrial growth in partnership with states and focuses on manufacturing growth and employment generation.
The NIMZs are different from SEZs in terms of size, level of infrastructure planning, governance structures related to regulatory procedures, and exit policies.
National Investment & Manufacturing Zones (NIMZs) are one of the important instruments of National Manufacturing Policy, 2011. NIMZs are envisaged as large areas of developed land with the requisite eco-system for promoting world class manufacturing activity.
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