Transformative Leap for Kerala: New Industrial City in Palakkad

Kerala is poised for industrial transformation with the Union Cabinet's approval for a new industrial city in Palakkad. This initiative, part of the National Industrial Corridor Development Programme, is expected to attract investments worth Rs 10,000 crore and create over 55,000 jobs, substantially boosting local manufacturing.

Kerala's industrial future is set for a significant transformation following the Union Cabinet's green light for the development of a new industrial city in Palakkad. The announcement, made by Chief Minister Pinarayi Vijayan, indicates a monumental shift in Kerala's economic landscape.

The approval, part of the National Industrial Corridor Development Programme overseen by Prime Minister Narendra Modi, encompasses 12 new industrial cities in 10 states, including the one in Palakkad, Kerala. With an estimated investment of Rs 28,602 crore, this project aims to enhance India's domestic manufacturing capabilities.

The Palakkad Industrial City project is anticipated to attract investments worth Rs 10,000 crore and generate over 55,000 jobs. Industries in food processing, pharmaceuticals, defence, aerospace, and other sectors are expected to thrive. The government emphasizes the establishment of environmentally friendly industries and streamlined permission procedures through a single-window system.

(With inputs from agencies.)