Recently, the Department for Promotion of Industry and Internal Trade (DPIIT) successfully organized the National Workshop on Industrial Park Rating System in New Delhi.
About Industrial Park Rating System:
- IPRS was launched by DPIIT in 2018 with the support of the Asian Development Bank (ADB) and the Ministry of Electronics and Information Technology (MeitY).
- Industrial Park Rating System (IPRS) is an extension of the India Industrial Land Bank (IILB) platform which features more than 4,500 industrial parks.
- It is a GIS-enabled database to facilitate investors to identify their preferred location for investment.
- Aim: To rate the country’s industrial parks and special economic zones (SEZ).
- It rates industrial parks across four pillars: internal infrastructure and utilities, external infrastructure and facilities, business support services, and environmental and safety management.
- Industrial Parks and Special Economic Zones (SEZS) are classified into 3 categories: Leaders, Challengers and Aspirants.
- This particular portal is integrated with the industry-based GIS system of the states and Union territories and plot-wise information in these are updated on a real-time basis.
- Industrial Park Rating System Report 2.0
- Based on the findings of the pilot and review of the global approaches, frameworks, and guidelines DPIIT introduced ‘IPRS 2.0’ in Oct, 2021 as a key enabler for identifying additional measures to enhance industrial competitiveness.
- The Globally known frameworks were referred for developing the initial concept of IPRS 2.0 viz. the International Guidelines for Industrial Park (IGIP) developed by United Nations Industrial Development Organization (UNIDO) and the Eco-Industrial Park (EIP) framework developed by UNIDO, World Bank.
What Is a Special Economic Zone (SEZ):
- A special economic zone is an area in a country that is subject to different economic regulations than other regions within the same country.
- They are typically created in order to facilitate rapid economic growth by leveraging tax incentives to attract foreign investment and spark technological advancement.
- The Special Economic Zones (SEZs) policy was launched in April, 2000.
- SEZs being set up under The Special Economic Zones Act, 2005.
Q1) What is the role of the Asian Development Bank?
The Asian Development Bank (ADB) is an international financial institution that focuses on promoting economic development and reducing poverty in the Asia-Pacific region. It was established in 1966 and is headquartered in Manila, Philippines. ADB's primary goal is to foster sustainable economic growth, improve living conditions, and provide better opportunities for people in its member countries.