In News:

• Recently, the Union Minister of Commerce and Industry, Shri Piyush Goyal, launched the Industrial Park Rating System (IPRS) 3.0 in New Delhi as part of the decade-long celebrations of the Make in India initiative.
• Developed by the Department for Promotion of Industry and Internal Trade (DPIIT) with support from the Asian Development Bank (ADB), IPRS 3.0 aims to benchmark and enhance the competitiveness of industrial parks across India.

Background and Evolution

The IPRS initiative began in 2018 as a pilot project, followed by IPRS 2.0 in 2021. The third edition builds upon these earlier versions by introducing a more comprehensive framework to assess industrial infrastructure, operational efficiency, and overall competitiveness.

Features of IPRS 3.0

IPRS 3.0 evaluates industrial parks based on multiple parameters, including:

• Sustainability and green infrastructure
• Logistics connectivity
• Digitalization
• Skill linkages
• Tenant feedback

Based on performance across these indicators, industrial parks are categorized into Leaders, Challengers, and Aspirers. This benchmarking enables stakeholders, including investors and policymakers, to access reliable and transparent data, identify best practices, and implement targeted interventions.

Significance for Industrial Development

The launch of IPRS 3.0 aligns with India’s broader strategy to create world-class industrial infrastructure. It provides States and Union Territories with an opportunity to:

• Showcase high-performing industrial parks
• Identify gaps for infrastructure improvement
• Attract domestic and foreign investments
• Generate employment
• Strengthen their industrial ecosystem