City
Epaper

NITI Aayog’s housing initiative for industrial workers to boost manufacturing workforce: ICEA

By IANS | Updated: December 21, 2024 17:40 IST

New Delhi, Dec 21 A secure, affordable, flexible and efficient accommodations for industrial workers is a pivotal initiative ...

Open in App

New Delhi, Dec 21 A secure, affordable, flexible and efficient accommodations for industrial workers is a pivotal initiative by NITI Aayog, aligned with the current and future needs of the domestic manufacturing sector, the India Cellular and Electronics Association (ICEA) said on Saturday.

NITI Aayog has released a comprehensive report on the crucial role of secure, affordable, flexible, and efficient (S.A.F.E.) accommodations for industrial workers in boosting India’s manufacturing sector.

The report addresses critical challenges that impact workforce stability, productivity, and inclusivity, which are essential for driving India’s aspirations as a global manufacturing hub.

“This comprehensive framework by NITI Aayog lays out actionable solutions to long-standing challenges, such as inadequate housing near industrial zones, which have often resulted in workforce attrition, instability, and lower productivity,” said Pankaj Mohindroo, Chairman, ICEA.

Furthermore, the report’s emphasis on gender-inclusive recommendations mark a significant step toward encouraging more women to participate in the manufacturing workforce, an area where the electronics sector stands to benefit immensely, he added.

The country is poised to elevate its manufacturing sector’s contribution to GDP from the current 17 per cent to 25 per cent as part of its long-term vision of achieving Viksit Bharat by 2047.

Some of the critical regulatory and financial reforms proposed in the report include promoting mixed-use developments in industrial areas to reduce commute times and improve worker accessibility and encouraging collaboration between the government and private players with Viability Gap Funding (VGF) support, which can address financial bottlenecks and accelerate project development.

It also proposes reclassifying worker accommodations under residential categories to enable lower taxes, utility rates, and GST exemptions, thereby making such projects more viable for private developers.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

InternationalUK: People gather outside Indian High Commission in support of victims of Pahalgam attack

International8 Syrian refugees injured in drone explosion in Lebanon

InternationalJordan Foreign Minister stresses urgency of ceasefire, humanitarian aid entry into Gaza

InternationalUN envoy holds talks in Oman as airstrikes continue in Yemen

InternationalStudent knife attack at French school leaves 1 dead, 3 injured

Business Realted Stories

BusinessPak airspace closure to impact flights from India, fare hike likely

BusinessTraining and skilling key to futuristic Kerala tourism: Minister Riyas

BusinessPunjab constitutes appellate authority for cancelled industrial plots

BusinessNSE pledges Rs 1 crore to next of kin of Pahalgam terror attack victims

BusinessiFEEL PGDM Pune: Empowering Future Leaders with AI, IIM Ranchi Immersion, and CFA training Edge