Piyush Goyal launches IPRS 3.0

• Union Minister of Commerce and Industry Piyush Goyal launched the Industrial Park Rating System (IPRS) 3.0 in New Delhi on September 20. 

• The initiative aims to further strengthen India’s industrial ecosystem and enhance the competitiveness of industrial infrastructure.

• It is developed by the Department for Promotion of Industry and Internal Trade (DPIIT) with support from Asian Development Bank (ADB).

• DPIIT launched the Industrial Park Rating System (IPRS) and organised a pilot level exercise in 2018. IPRS 2.0 was launched in October 2021.

• The launch of IPRS 3.0 will help assess and benchmark facilities, infrastructure, and competitiveness of industrial parks across the country. 

• The initiative will provide stakeholders with reliable data, encourage best practices, and support the creation of world-class infrastructure, thereby strengthening the ‘Make in India’ programme and enhancing India’s global competitiveness.

• The third edition introduces an expanded framework with new parameters, including sustainability, green infrastructure, logistics connectivity, digitalisation, skill linkages, and enhanced tenant feedback.

• Under IPRS 3.0, industrial parks will be benchmarked and categorised as Leaders, Challengers, and Aspirers based on their performance across key indicators. 

• This will provide investors with transparent and credible information, foster healthy competition among states and Union Territories, and guide policymakers in designing targeted interventions.

• For states and UTs, the initiative offers an opportunity to showcase best-performing parks, identify gaps for improvement, attract investments, generate employment, and strengthen their industrial ecosystem. 

• The exercise is expected to make India a more sustainable, inclusive, and globally competitive investment destination.