Jan. 5 – A recently approved industrial policy for New Delhi aims to consolidate business in the capital to turn it into a high-tech, knowledge-based service sector and IT hub.
Two special economic zones will initially be set up in Baprola, one for gems and jewelery and the other for IT and information technology enabled services (ITES) says The Economic Times. The plan is applicable from 2010 to 2021 and is only the second of its kind to be implemented in the city.
The SEZs will serve as an example for other businesses to emulate. The new policy outlines Delhi as “a hub of clean, high-technology and skilled economic activities by 2021 by adhering to the following principles: Infrastructure development, decongestion, promoting ‘walk to work’, simplifying business norms, promoting industry consultation in decision making and sustainability.”
There will be business facilitation council set up specially for the SEZs. The gems and jewellery SEZ will span an area of 167, 539 square meters and is expected to provide 18,000 direct jobs and 54,000 indirect employment.
The IT and ITES SEZ on the other hand will include an area of 105, 218 square meters including convention halls, hotels, a hospital and residential accommodation.
Business in New Delhi is still composed of mostly garment and furniture manufacturers along with electrical machinery production and repair services.