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Consider the following statements with reference to the Industrial Park Rating System:
- It was launched in India with the support of Asian Development Bank (ADB).
- It is a GIS-enabled database to facilitate investors to identify their preferred location for investment.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements with reference to the Industrial Par...
The correct answer is option 'C' - Both 1 and 2.
Explanation:
1. It was launched in India with the support of Asian Development Bank (ADB):
The Industrial Park Rating System was indeed launched in India with the support of the Asian Development Bank (ADB). The ADB provided technical assistance and financial support to develop and implement this system. The aim of the Industrial Park Rating System is to promote the development of high-quality industrial parks in India.
2. It is a GIS-enabled database to facilitate investors to identify their preferred location for investment:
The second statement is also correct. The Industrial Park Rating System is a GIS-enabled database that helps investors identify their preferred location for investment. It provides detailed information on various industrial parks across the country, including their infrastructure, facilities, and services available. The database is designed to be user-friendly and allows investors to search for industrial parks based on specific criteria such as location, sector, infrastructure, etc.
The Industrial Park Rating System serves as a valuable tool for investors as it provides them with comprehensive information about industrial parks, enabling them to make informed decisions about their investments. It helps investors assess the suitability of different industrial parks based on their requirements and preferences. By providing a transparent and standardized rating system, it promotes investment in high-quality industrial parks and contributes to the overall industrial development of the country.
In conclusion, both statements are correct. The Industrial Park Rating System was launched in India with the support of the Asian Development Bank and it is a GIS-enabled database that facilitates investors in identifying their preferred location for investment.
Explanation:
1. It was launched in India with the support of Asian Development Bank (ADB):
The Industrial Park Rating System was indeed launched in India with the support of the Asian Development Bank (ADB). The ADB provided technical assistance and financial support to develop and implement this system. The aim of the Industrial Park Rating System is to promote the development of high-quality industrial parks in India.
2. It is a GIS-enabled database to facilitate investors to identify their preferred location for investment:
The second statement is also correct. The Industrial Park Rating System is a GIS-enabled database that helps investors identify their preferred location for investment. It provides detailed information on various industrial parks across the country, including their infrastructure, facilities, and services available. The database is designed to be user-friendly and allows investors to search for industrial parks based on specific criteria such as location, sector, infrastructure, etc.
The Industrial Park Rating System serves as a valuable tool for investors as it provides them with comprehensive information about industrial parks, enabling them to make informed decisions about their investments. It helps investors assess the suitability of different industrial parks based on their requirements and preferences. By providing a transparent and standardized rating system, it promotes investment in high-quality industrial parks and contributes to the overall industrial development of the country.
In conclusion, both statements are correct. The Industrial Park Rating System was launched in India with the support of the Asian Development Bank and it is a GIS-enabled database that facilitates investors in identifying their preferred location for investment.
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Consider the following statements with reference to the Industrial Par...
Recently, 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.
Hence both statements are correct.
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Consider the following statements with reference to the Industrial Park Rating System: It was launched in India with the support of Asian Development Bank (ADB). It is a GIS-enabled database to facilitate investors to identify their preferred location for investment.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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