To foster an environment where micro, small, and medium-sized enterprises (MSMEs) may grow their operations and draw in more investments, the government will provide incentives for the construction of industrial parks on private property.
Despite the fact that industrial parks can now be built on public property, the Centre intends to introduce an incentive programme that will permit MSMEs to build industrial parks on private property.
On private properties, the government plans to build industrial parks. It will grant authorization for industrial parks, whether they are 50 or 500 acres, subject to the following requirements: there must be nearby amenities, such as hospitals and schools, in addition to a reliable transportation system. At first, one SIMA Seeks Removal Of Cotton Duty To Steady Prices or two such parks will be developed in each state,” the person said seeking anonymity.The Union ministry of MSME is working on a draft to do away with certain regulatory requirements and relaxing guidelines .