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Tenant feedback, private parks key in updated industrial park rating

Tenant feedback, private parks key in updated industrial park rating

India will soon rate the private industrial parks present in the country along with those developed by the government. As part of the upgraded Industrial Park Rating System (IPRS), the Department for Promotion of Industry and Internal Trade (DPIIT) has widened the scope to assess the country’s industrial infrastructure by including in it private industrial parks and tenant feedback to support ease of doing business and promote investment.

Along with the Asian Development Bank, the department had assessed 177 parks in a pilot in 2018 based on Internal Infrastructure and Utilities; External Infrastructure and Connectivity; Business Support Services & Facilities; and Environment & Safety Management.

“States have been conveyed that the process of next phase of IPRS will be undertaken with revision of parameters to improve the qualitative measurement and analysis of data across the industrial infrastructure, encompassing private parks and tenant feedback,” said an official.

IPRS 2.0 will include the introduction of tenant feedback mechanism to help in the assessment of the developer’s responses and also engage directly with the ultimate beneficiaries besides aiding policy makers to devise better schemes and programmes.

The pilot done in 2018 had revealed that significant improvements were required for business facilitation and environment and safety management. Provision of sustainability-centric features was found to be poor.

As per the official, the exercise is aimed to be finished this month and it will provide information to prospective tenants and compare parks on various choice of identified parameters.

“The exercise will enhance competitiveness of industrial parks and help identify areas of intervention, and recognize best practices and promote competitive sprit among park developers and operators,” the official said.

The move comes amid India’s effort to break into the top 50 in the World Bank’s Ease of Doing Business rankings.
India’s rank jumped 14 notches in 2019 to 63 among 190 countries.

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