The parks will be developed through joint ventures involving state governments and a state-run company, Vaishnaw told reporters after the cabinet meeting.

Industry Secretary Amardeep Singh Bhatia said the government expects to develop about 33,000 acres of land for manufacturing over a period of six years.

The planned industrial parks will range in size from 100 acres to 1,000 acres, equivalent to about 40.5 hectares to 404.7 hectares, he said. The government will provide financial support of up to 10 million rupees per acre for core and social infrastructure within the parks.

Officials said the initiative is aimed at creating integrated manufacturing zones with necessary facilities to support industrial activity.

The programme reflects India’s ongoing efforts to expand its manufacturing base through infrastructure development and coordination with state governments.

The use of joint ventures is expected to facilitate land acquisition and project implementation, while financial assistance is intended to reduce upfront costs for infrastructure development.

Separately, the cabinet approved 117 billion rupees for minimum support prices for cotton purchases, according to government officials.

The allocation is intended to support procurement operations under existing price support mechanisms.

If approved by lawmakers, the legislation is expected to face a national referendum, where nationalist groups have signalled opposition, arguing that deeper integration with the EU could undermine Swiss sovereignty.

The Federal Council said the proposed framework was designed to safeguard Switzerland’s economic interests and ensure continuity in its relationship with the EU.”

“In view of the tense geopolitical situation, stable and reliable relations with neighbouring European countries are of strategic importance,” the council said in a statement.

The government added that strengthening institutional cooperation with the bloc would provide greater certainty for Switzerland’s export-driven economy.

The legislative package builds on an agreement initially reached between Switzerland and the European Union in December 2024.

According to the Federal Council, the framework would help create predictable conditions for trade and economic cooperation while supporting long-term prosperity in the Alpine country.

Under Switzerland’s system of direct democracy, major legislative changes can be challenged through a nationwide referendum.

Political observers say the proposed measures are likely to face strong scrutiny from nationalist groups that oppose closer institutional ties with the European Union, setting the stage for a potentially contentious public vote.