Centre given final approval to set up NIMZ in Telangana

The Centre has given its final approval to set up (nimz) national investment and manufacturing zone in Telangana State, This decision will attract an investment of about Rs 17,300 crore. The government has granted final approval to the NIMZ at medak district in Telangana.

NIMZs are mega industrial zones or integrated townships with world class supporting infrastructure.

Units of major sectors which would come up in this NIMZ zone includes defence and Aerospace, engineering goods, Textiles, Pharmaceuticals, electronics and telecom hardware.

It also said that the government has granted an in-principle approval to the Hyderabad Pharma NIMZ in telangana state.

The National Manufacturing Policy provides for NIMZs — mega industrial zones with world class infrastructure. The government is offering a host of incentives like exemption from capital gains tax and liberalised norms to promote these zones.

The policy aimed at increasing the share of manufacturing sector in the country’s economic growth to 25 per cent in a decade from the current 16 per cent and also create 100 million jobs.

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