Industrial Park Rating System 3.0

Industrial Park Rating System 3.0 Latest News

Recently, the Union Minister of Commerce and Industry launched the Industrial Park Rating System (IPRS) 3.0 in New Delhi.

About Industrial Park Rating System 3.0

• It is developed by the Department for Promotion of Industry and Internal Trade (DPIIT) with support from the Asian Development Bank (ADB).
• It aims to further strengthen India’s industrial ecosystem and enhance the competitiveness of industrial infrastructure.
• Previous IPRS: It was started in 2018 and again IPRS 2.0 was launched in 2021.

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Features of Industrial Park Rating System 3.0

• It will help assess and benchmark facilities, infrastructure, and competitiveness of industrial parks across the country.
• The initiative will provide stakeholders with reliable data, encourage best practices, and support the creation of world-class infrastructure.
• It introduced an expanded framework with new parameters, including sustainability, green infrastructure, logistics connectivity, digitalization, skill linkages, and enhanced tenant feedback.
• Under IPRS 3.0, industrial parks will be benchmarked and categorized as Leaders, Challengers, and Aspirers based on their performance across key indicators.

Significance of Industrial Park Rating System 3.0

• It will provide investors with transparent and credible information, foster healthy competition among States and Union Territories, and guide policymakers in designing targeted interventions.
• For States and UTs, it offers an opportunity to showcase best-performing parks, identify gaps for improvement, attract investments, generate employment, and strengthen their industrial ecosystem.

Source: PIB